Moody National Bank Trust Division Sells 740 Shares of General Motors (NYSE:GM)

Moody National Bank Trust Division lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,253 shares of the auto manufacturer’s stock after selling 740 shares during the period. Moody National Bank Trust Division’s holdings in General Motors were worth $291,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LifeSteps Financial Inc. bought a new stake in shares of General Motors in the 1st quarter worth $25,000. Montag A & Associates Inc. bought a new stake in shares of General Motors in the 1st quarter worth $30,000. YHB Investment Advisors Inc. bought a new stake in shares of General Motors in the 1st quarter worth $32,000. LRI Investments LLC bought a new stake in shares of General Motors in the 1st quarter worth $34,000. Finally, Riverview Trust Co bought a new stake in shares of General Motors in the 1st quarter worth $38,000. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

Shares of General Motors stock traded up $0.66 during trading hours on Tuesday, hitting $40.61. The company’s stock had a trading volume of 14,491,459 shares, compared to its average volume of 16,038,102. The business has a 50 day moving average price of $46.32 and a two-hundred day moving average price of $43.38. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The company has a market cap of $46.33 billion, a PE ratio of 4.89, a PEG ratio of 0.44 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same period in the previous year, the business earned $1.91 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Analysts expect that General Motors will post 9.94 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has authorized a stock buyback program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be given a $0.12 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.18%. General Motors’s payout ratio is 5.87%.

Insider Buying and Selling

In other news, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value of $15,770,320.65. Following the sale, the chief executive officer now directly owns 898,648 shares in the company, valued at $43,431,657.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul A. Jacobson acquired 25,000 shares of General Motors stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 1,152,621 shares of company stock worth $51,818,111. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Mizuho lifted their target price on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. lifted their target price on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Royal Bank of Canada lifted their price objective on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Sanford C. Bernstein began coverage on General Motors in a report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price objective for the company. Finally, Morgan Stanley lowered General Motors from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $46.00 to $47.00 in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.27.

General Motors Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.