Cassia Capital Partners LLC Purchases New Shares in General Motors (NYSE:GM)

Cassia Capital Partners LLC purchased a new position in General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 11,462 shares of the auto manufacturer’s stock, valued at approximately $611,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GM. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of General Motors in the second quarter worth approximately $1,580,000. Czech National Bank grew its position in General Motors by 5.3% in the 3rd quarter. Czech National Bank now owns 228,954 shares of the auto manufacturer’s stock valued at $10,266,000 after acquiring an additional 11,533 shares during the last quarter. Park Avenue Securities LLC increased its stake in General Motors by 19.5% in the third quarter. Park Avenue Securities LLC now owns 38,618 shares of the auto manufacturer’s stock worth $1,732,000 after purchasing an additional 6,292 shares during the period. Handelsbanken Fonder AB lifted its position in shares of General Motors by 9.0% during the third quarter. Handelsbanken Fonder AB now owns 182,130 shares of the auto manufacturer’s stock worth $8,167,000 after purchasing an additional 15,018 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of General Motors by 9.6% during the third quarter. GAMMA Investing LLC now owns 15,528 shares of the auto manufacturer’s stock valued at $696,000 after purchasing an additional 1,356 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Up 1.5 %

NYSE GM opened at $48.64 on Wednesday. General Motors has a 52 week low of $37.60 and a 52 week high of $61.24. The company has a 50 day moving average price of $52.39 and a 200 day moving average price of $49.94. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The firm has a market cap of $48.39 billion, a PE ratio of 7.91, a price-to-earnings-growth ratio of 0.69 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, sell-side analysts forecast that General Motors will post 11.41 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s payout ratio is 7.80%.

Insider Transactions at General Motors

In related news, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and lifted their price objective for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Sanford C. Bernstein lifted their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a report on Wednesday, December 11th. Finally, Wedbush upped their target price on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.28.

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.