Stoneridge Investment Partners LLC Has $3.85 Million Holdings in General Motors (NYSE:GM)

Stoneridge Investment Partners LLC lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 38.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,959 shares of the auto manufacturer’s stock after selling 52,602 shares during the period. General Motors accounts for 1.5% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 21st largest holding. Stoneridge Investment Partners LLC’s holdings in General Motors were worth $3,854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. LifeSteps Financial Inc. bought a new stake in shares of General Motors in the first quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new stake in General Motors during the second quarter worth $28,000. Fortitude Family Office LLC raised 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 in the last quarter. Cape Investment Advisory Inc. boosted its position in shares of General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares in the last quarter. Finally, Montag A & Associates Inc. bought a new stake in General Motors in the first quarter valued at about $30,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the topic of several recent analyst reports. UBS Group boosted their target price 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. JPMorgan Chase & Co. upped their price objective on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Nomura downgraded 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. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Wolfe Research started coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.27.

General Motors Stock Performance

Shares of GM stock opened at $46.31 on Friday. The company has a market capitalization of $52.84 billion, a P/E ratio of 5.66, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The company’s 50 day moving average price is $46.19 and its two-hundred day moving average price is $44.97.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. During the same period in the previous year, the firm posted $1.91 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be issued 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 yield of 1.04%. General Motors’s payout ratio is 5.87%.

General Motors declared that its Board of Directors has authorized a stock buyback plan on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $417,307.26. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.