Portfolio Design Labs LLC Makes New $1.72 Million Investment in General Motors (NYSE:GM)

Portfolio Design Labs LLC bought a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 38,340 shares of the auto manufacturer’s stock, valued at approximately $1,719,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GM. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors during the 2nd quarter worth $25,000. Catalyst Capital Advisors LLC bought a new position in General Motors during the third quarter worth about $27,000. Wellington Shields Capital Management LLC purchased a new position in shares of General Motors in the second quarter worth about $28,000. Fortitude Family Office LLC raised its position in shares of General Motors by 56.1% in 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 during the period. Finally, EdgeRock Capital LLC purchased a new stake in shares of General Motors during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 2.0 %

Shares of NYSE GM opened at $55.12 on Wednesday. The stock has a market capitalization of $60.61 billion, a P/E ratio of 5.88, a PEG ratio of 0.43 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. General Motors has a one year low of $27.70 and a one year high of $59.39. The firm’s 50 day simple moving average is $50.10 and its two-hundred day simple moving average is $47.48.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter last year, the company earned $2.28 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. As a group, analysts expect that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Insider Buying and Selling

In other news, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This represents a 18.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 653,511 shares of company stock worth $35,012,844 in the last ninety days. 0.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GM has been the topic of a number of analyst reports. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a report on Monday, August 5th. Sanford C. Bernstein increased their price target on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Wolfe Research initiated coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.92.

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.