General Motors (NYSE:GM) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 44.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,389 shares of the auto manufacturer’s stock after buying an additional 20,206 shares during the period. Tidal Investments LLC’s holdings in General Motors were worth $2,932,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GM. Blue Trust Inc. increased its position in General Motors by 178.3% during the second quarter. Blue Trust Inc. now owns 2,510 shares of the auto manufacturer’s stock worth $114,000 after purchasing an additional 1,608 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of General Motors by 3.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 196,011 shares of the auto manufacturer’s stock valued at $9,107,000 after buying an additional 7,136 shares during the period. Pallas Capital Advisors LLC increased its holdings in shares of General Motors by 75.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 13,114 shares of the auto manufacturer’s stock worth $651,000 after buying an additional 5,642 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in shares of General Motors by 3.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after buying an additional 227 shares during the period. Finally, Legacy Capital Group California Inc. acquired a new position in General Motors in the second quarter valued at approximately $205,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GM shares. Royal Bank of Canada increased their price target on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group upped their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Wedbush lifted their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. UBS Group upped their price target on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wolfe Research initiated coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, General Motors has a consensus rating of “Hold” and an average target price of $58.85.

Insiders Place Their Bets

In related news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the 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 completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock valued at $56,509,286 over the last quarter. Company insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of GM stock opened at $52.53 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The stock has a market cap of $57.76 billion, a PE ratio of 5.60, a P/E/G ratio of 0.39 and a beta of 1.42. General Motors has a 1 year low of $34.32 and a 1 year high of $61.24. The stock has a fifty day moving average price of $53.00 and a 200 day moving average price of $48.72.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period in the previous year, the firm earned $2.28 EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. Sell-side analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 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.