General Motors (NYSE:GM) Stock Holdings Lowered by tru Independence LLC

tru Independence LLC lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,449 shares of the auto manufacturer’s stock after selling 5,615 shares during the period. General Motors makes up 2.5% of tru Independence LLC’s holdings, making the stock its 5th biggest position. tru Independence LLC’s holdings in General Motors were worth $8,198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of General Motors by 804.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,834 shares of the auto manufacturer’s stock worth $209,000 after buying an additional 5,189 shares during the last quarter. Apollon Wealth Management LLC boosted its position in General Motors by 51.9% in the 4th quarter. Apollon Wealth Management LLC now owns 18,110 shares of the auto manufacturer’s stock worth $651,000 after purchasing an additional 6,186 shares in the last quarter. Gryphon Financial Partners LLC acquired a new stake in shares of General Motors during the 4th quarter worth approximately $335,000. Wealthspire Advisors LLC purchased a new position in shares of General Motors during the 4th quarter valued at approximately $229,000. Finally, Principal Securities Inc. acquired a new position in shares of General Motors in the 4th quarter valued at $743,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

NYSE GM opened at $47.14 on Friday. 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 stock’s fifty day moving average is $46.27 and its two-hundred day moving average is $44.79. The firm has a market capitalization of $53.78 billion, a P/E ratio of 5.76, a price-to-earnings-growth ratio of 0.50 and a beta of 1.43. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $45.13 billion. During the same quarter in the prior year, the firm posted $1.91 earnings per share. General Motors’s quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts anticipate that General Motors will post 9.94 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s payout ratio is presently 5.87%.

General Motors declared that its board has approved a stock buyback plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on GM shares. Wolfe Research assumed coverage on shares of General Motors in a report on Thursday. They issued a “peer perform” rating for the company. Morgan Stanley lowered General Motors from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $46.00 to $47.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group raised their price objective on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.17.

Insider Activity at General Motors

In related news, President Mark L. Reuss sold 35,142 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $46.34, for a total transaction of $1,628,480.28. Following the completion of the sale, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $5,880,870.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Mark L. Reuss sold 35,142 shares of General Motors stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $46.34, for a total value of $1,628,480.28. Following the completion of the sale, the president now owns 126,907 shares in the company, valued at approximately $5,880,870.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 376,544 shares of company stock worth $18,134,919. Insiders own 0.72% of the company’s stock.

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.