6,001 Shares in General Motors (NYSE:GM) Purchased by Greenwood Gearhart Inc.

Greenwood Gearhart Inc. acquired a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,001 shares of the auto manufacturer’s stock, valued at approximately $279,000.

A number of other institutional investors also recently modified their holdings of GM. LifeSteps Financial Inc. acquired a new stake in shares of General Motors in the first quarter valued at approximately $25,000. Wellington Shields Capital Management LLC bought a new position in General Motors in the 2nd quarter valued at $28,000. Fortitude Family Office LLC increased its stake in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the period. Cape Investment Advisory Inc. raised its position in shares of General Motors by 75.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares during the last quarter. Finally, Montag A & Associates Inc. acquired a new position in shares of General Motors during the first quarter valued at $30,000. 92.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction on Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Paul A. Jacobson bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GM shares. Wolfe Research began coverage on General Motors in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Wedbush restated an “outperform” rating and issued a $55.00 price objective on shares of General Motors in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research report on Monday, August 5th. Finally, StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.27.

General Motors Trading Down 5.4 %

GM opened at $44.82 on Wednesday. The firm’s fifty day simple moving average is $46.25 and its 200 day simple moving average is $44.92. The stock has a market capitalization of $51.14 billion, a P/E ratio of 5.48, a P/E/G ratio of 0.47 and a beta of 1.43. 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 12 month low of $26.30 and a 12 month high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data 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. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. During the same period in the prior year, the firm earned $1.91 earnings per share. General Motors’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, research analysts anticipate that General Motors will post 9.94 EPS for the current fiscal year.

General Motors announced that its Board of Directors has approved a share repurchase plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, September 6th. General Motors’s dividend payout ratio is presently 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.