Drive Wealth Management LLC Makes New Investment in General Motors (NYSE:GM)

Drive Wealth Management LLC acquired a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 4,431 shares of the auto manufacturer’s stock, valued at approximately $236,000.

Other large investors have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors during the 2nd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC bought a new position in shares of General Motors during the 3rd quarter valued at approximately $27,000. Truvestments Capital LLC bought a new position in shares of General Motors during the 3rd quarter valued at approximately $27,000. Sugar Maple Asset Management LLC bought a new position in shares of General Motors during the 4th quarter valued at approximately $31,000. Finally, Eastern Bank bought a new position in shares of General Motors during the 3rd quarter valued at approximately $34,000. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In related news, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the transaction, the executive vice president now directly owns 122,465 shares of the company’s stock, valued at $6,935,192.95. This represents a 75.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 514,344 shares of company stock worth $28,977,691 in the last three months. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

GM has been the topic of several analyst reports. UBS Group boosted their target price on General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their target price on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Mizuho upped their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays upped their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.17.

General Motors Trading Up 2.0 %

Shares of NYSE GM opened at $54.99 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The stock has a market capitalization of $60.47 billion, a P/E ratio of 5.86, a price-to-earnings-growth ratio of 0.38 and a beta of 1.42. General Motors has a 1-year low of $34.93 and a 1-year high of $61.24. The business has a fifty day moving average price of $53.17 and a 200 day moving average price of $49.90.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.87%. General Motors’s dividend payout ratio (DPR) is currently 5.12%.

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.