General Motors (NYSE:GM) Shares Purchased by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC grew its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 21.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,366 shares of the auto manufacturer’s stock after buying an additional 1,279 shares during the period. Quotient Wealth Partners LLC’s holdings in General Motors were worth $342,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GM. Capital World Investors boosted its holdings in General Motors by 14.6% in the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after purchasing an additional 6,201,777 shares during the period. Putnam Investments LLC boosted its position in shares of General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after purchasing an additional 2,905,689 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of General Motors by 21.9% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after purchasing an additional 3,247,050 shares during the last quarter. Norges Bank bought a new stake in shares of General Motors in the 4th quarter worth approximately $602,280,000. Finally, Franklin Resources Inc. lifted its stake in General Motors by 12.0% during the fourth quarter. Franklin Resources Inc. now owns 13,731,249 shares of the auto manufacturer’s stock valued at $493,226,000 after purchasing an additional 1,472,297 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $46.00 to $47.00 in a report on Wednesday, July 24th. Bank of America reissued a “buy” rating and issued a $75.00 price objective on shares of General Motors in a research note on Wednesday, June 12th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Royal Bank of Canada dropped their price objective on General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, UBS Group lifted their price objective on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.17.

Insider Activity

In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the sale, the chief executive officer now directly owns 1,198,648 shares in the company, valued at $52,093,242.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Mark L. Reuss sold 14,858 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the transaction, the president now directly owns 162,049 shares in the company, valued at $7,455,874.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the sale, the chief executive officer now owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock valued at $51,818,111 in the last quarter. Company insiders own 0.72% of the company’s stock.

General Motors Trading Up 4.5 %

GM stock traded up $2.11 during midday trading on Friday, reaching $48.57. The company’s stock had a trading volume of 12,918,085 shares, compared to its average volume of 15,663,523. The business’s 50-day simple moving average is $45.91 and its 200-day simple moving average is $44.04. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50. The stock has a market cap of $55.42 billion, a PE ratio of 5.94, a price-to-earnings-growth ratio of 0.44 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) 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 business had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same period last year, the company earned $1.91 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts expect that General Motors will post 9.94 EPS for the current year.

General Motors Announces Dividend

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. The ex-dividend date is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s dividend payout ratio is 5.87%.

General Motors declared that its Board of Directors has approved a stock buyback program on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.