Truvestments Capital LLC Invests $27,000 in General Motors (NYSE:GM)

Truvestments Capital LLC bought a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 607 shares of the auto manufacturer’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GM. Silvercrest Asset Management Group LLC increased its holdings in shares of General Motors by 7.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 7,094 shares of the auto manufacturer’s stock valued at $322,000 after purchasing an additional 473 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in General Motors by 35.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 36,493 shares of the auto manufacturer’s stock valued at $1,655,000 after acquiring an additional 9,460 shares during the period. LRI Investments LLC acquired a new stake in General Motors during the first quarter worth approximately $34,000. Cetera Investment Advisers boosted its holdings in shares of General Motors by 98.5% during the first quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock worth $14,993,000 after acquiring an additional 164,083 shares during the period. Finally, Cetera Advisors LLC grew its position in shares of General Motors by 233.2% in the first quarter. Cetera Advisors LLC now owns 177,567 shares of the auto manufacturer’s stock valued at $8,053,000 after purchasing an additional 124,276 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Up 1.3 %

GM opened at $55.50 on Friday. The company has a market cap of $61.03 billion, a P/E ratio of 5.92, a PEG ratio of 0.45 and a beta of 1.40. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $51.43 and its 200-day moving average is $47.99. General Motors has a 1-year low of $28.33 and a 1-year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share 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 firm had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter in the previous year, the firm posted $2.28 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. Equities research analysts predict that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.86%. General Motors’s dividend payout ratio is presently 5.12%.

Insiders Place Their Bets

In related news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction that occurred 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 transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock valued at $56,509,286 in the last ninety days. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

GM has been the subject of several recent research reports. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Friday, October 11th. The Goldman Sachs Group upped their price target on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. UBS Group lifted their price objective on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Barclays boosted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Four equities 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 given a strong buy rating to the company. According to 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.