Cutter & CO Brokerage Inc. Sells 293 Shares of General Motors (NYSE:GM)

Cutter & CO Brokerage Inc. decreased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.4% in the second quarter, Holdings Channel reports. The institutional investor owned 6,292 shares of the auto manufacturer’s stock after selling 293 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in General Motors were worth $292,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GM. SJS Investment Consulting Inc. grew its position in shares of General Motors by 34.5% during the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after purchasing an additional 203 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in shares of General Motors by 3.5% during the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after purchasing an additional 227 shares in the last quarter. Institute for Wealth Management LLC. grew its position in shares of General Motors by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock valued at $1,702,000 after purchasing an additional 230 shares in the last quarter. Finally, Beech Hill Advisors Inc. grew its position in General Motors by 1.6% in the second quarter. Beech Hill Advisors Inc. now owns 15,233 shares of the auto manufacturer’s stock worth $708,000 after acquiring an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Trading Up 0.6 %

Shares of General Motors stock traded up $0.31 on Friday, hitting $49.78. 15,736,896 shares of the company traded hands, compared to its average volume of 12,115,744. The stock’s 50 day moving average price is $46.08 and its 200-day moving average price is $44.45. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50. The company has a market cap of $55.95 billion, a PE ratio of 6.09, a PEG ratio of 0.50 and a beta of 1.43.

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

General Motors declared that its board has initiated a stock buyback program on Tuesday, June 11th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s payout ratio is 5.87%.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the transaction, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the transaction, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Mark L. Reuss sold 14,858 shares of General Motors stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $46.01, for a total transaction of $683,616.58. Following the transaction, the president now directly owns 162,049 shares in the company, valued at $7,455,874.49. The disclosure for this sale can be found here. Insiders have sold a total of 391,402 shares of company stock valued at $18,818,536 over the last ninety days. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Nomura Securities upgraded General Motors to a “strong sell” rating in a research report on Monday, August 5th. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price target on General Motors from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 24th. Bank of America reiterated a “buy” rating and issued a $75.00 price target on shares of General Motors in a research report on Wednesday, June 12th. Finally, UBS Group lifted their price target on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, General Motors has an average rating of “Moderate Buy” and an average price target of $55.17.

About General Motors

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.