E&G Advisors LP Sells 854 Shares of General Motors (NYSE:GM)

E&G Advisors LP trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 5.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,669 shares of the auto manufacturer’s stock after selling 854 shares during the period. E&G Advisors LP’s holdings in General Motors were worth $708,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Highlander Capital Management LLC acquired a new position in shares of General Motors during the fourth quarter worth approximately $27,000. Cape Investment Advisory Inc. raised its holdings in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after purchasing an additional 359 shares during the last quarter. Sachetta LLC bought a new position in shares of General Motors during the fourth quarter valued at about $33,000. Bfsg LLC bought a new stake in General Motors in the 4th quarter worth about $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in General Motors in the 4th quarter valued at about $36,000. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

Shares of GM traded down $0.27 during trading hours on Wednesday, reaching $46.68. 5,440,680 shares of the company’s stock traded hands, compared to its average volume of 16,021,320. General Motors has a 12 month low of $26.30 and a 12 month high of $49.35. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The stock has a market cap of $53.26 billion, a PE ratio of 5.72, a price-to-earnings-growth ratio of 0.49 and a beta of 1.43. The firm’s 50 day simple moving average is $45.70 and its 200-day simple moving average is $41.61.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 earnings per share. Equities analysts expect that General Motors will post 9.43 EPS for the current year.

General Motors announced that its board has authorized a share repurchase plan on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were given a dividend of $0.12 per share. The ex-dividend date was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. General Motors’s payout ratio is 5.87%.

Insider Transactions at General Motors

In related news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now owns 176,907 shares in the company, valued at approximately $7,684,840.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the sale, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The disclosure for this sale can be found here. In the last three months, insiders sold 1,152,621 shares of company stock worth $51,818,111. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on GM. Barclays upped their price objective on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Morgan Stanley raised their price objective on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Wells Fargo & Company boosted their target price on shares of General Motors from $30.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, June 25th. UBS Group lifted their price target on shares of General Motors from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Saturday, June 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.91.

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.