KMG Fiduciary Partners LLC Increases Stock Position in General Motors (NYSE:GM)

KMG Fiduciary Partners LLC boosted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,741 shares of the auto manufacturer’s stock after acquiring an additional 2,137 shares during the period. KMG Fiduciary Partners LLC’s holdings in General Motors were worth $2,768,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Aaron Wealth Advisors LLC raised its stake in General Motors by 43.2% during the third quarter. Aaron Wealth Advisors LLC now owns 6,797 shares of the auto manufacturer’s stock valued at $305,000 after buying an additional 2,052 shares during the last quarter. V Square Quantitative Management LLC grew its position in General Motors by 15.9% during the 3rd quarter. V Square Quantitative Management LLC now owns 42,838 shares of the auto manufacturer’s stock valued at $1,921,000 after purchasing an additional 5,885 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in General Motors by 2.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 145,059 shares of the auto manufacturer’s stock valued at $6,504,000 after purchasing an additional 3,176 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in General Motors by 2.6% in the third quarter. Bleakley Financial Group LLC now owns 18,026 shares of the auto manufacturer’s stock worth $808,000 after buying an additional 449 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of General Motors in the third quarter worth approximately $381,000. Institutional investors own 92.67% of the company’s stock.

Insider Activity

In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $417,307.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was bought at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GM. Wedbush restated an “outperform” rating and issued a $55.00 price objective on shares of General Motors in a report on Wednesday, October 9th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective 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 reaffirmed an “outperform” rating and issued a $54.00 target price on shares of General Motors in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company lowered their target price on General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors currently has an average rating of “Hold” and an average target price of $55.35.

General Motors Stock Performance

GM stock opened at $49.18 on Friday. General Motors has a one year low of $26.30 and a one year high of $50.50. The firm has a market cap of $56.11 billion, a price-to-earnings ratio of 6.01, a PEG ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The firm has a 50-day simple moving average of $47.01 and a two-hundred day simple moving average of $45.92.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.91 earnings per share. On average, equities analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s payout ratio is 5.87%.

General Motors Company 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.