MFA Wealth Advisors LLC Makes New $37,000 Investment in General Motors (NYSE:GM)

MFA Wealth Advisors LLC purchased a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 798 shares of the auto manufacturer’s stock, valued at approximately $37,000.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in General Motors in the fourth quarter worth about $602,280,000. Capital World Investors raised its stake in General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after purchasing an additional 6,201,777 shares during the period. Swedbank AB purchased a new position in shares of General Motors in the first quarter worth $159,750,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of General Motors by 21.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after purchasing an additional 3,247,050 shares during the last quarter. Finally, Putnam Investments LLC grew its holdings in 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 buying an additional 2,905,689 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on GM shares. Sanford C. Bernstein began coverage on shares of General Motors in a research report on Thursday, April 25th. They set an “outperform” rating and a $55.00 target price on the stock. Citigroup raised their target price on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company upped their price objective on shares of General Motors from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Finally, Mizuho raised their target price on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.17.

General Motors Price Performance

NYSE:GM traded up $0.58 during trading hours on Wednesday, reaching $46.56. 11,891,093 shares of the company’s stock were exchanged, compared to its average volume of 15,732,746. The company has a market capitalization of $53.12 billion, a P/E ratio of 5.69, a price-to-earnings-growth ratio of 0.44 and a beta of 1.43. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. The business’s 50-day simple moving average is $45.90 and its two-hundred day simple moving average is $43.95. 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 (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data 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. The firm had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.91 EPS. Sell-side analysts expect that General Motors will post 9.94 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors announced that its Board of Directors has authorized a share buyback program on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other General Motors 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 transaction of $6,516,000.00. Following the completion of the sale, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was 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 $7,684,840.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction that occurred on 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 completion of 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. Insiders have sold 1,152,621 shares of company stock worth $51,818,111 in the last 90 days. Company 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.