Atlas Capital Advisors LLC Increases Stake in General Motors (NYSE:GM)

Atlas Capital Advisors LLC grew its position in General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,335 shares of the auto manufacturer’s stock after acquiring an additional 446 shares during the quarter. Atlas Capital Advisors LLC’s holdings in General Motors were worth $666,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Signaturefd LLC grew its holdings in General Motors by 9.9% during the 2nd quarter. Signaturefd LLC now owns 20,690 shares of the auto manufacturer’s stock worth $961,000 after acquiring an additional 1,859 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in shares of General Motors in the 2nd quarter valued at about $40,000. Crossmark Global Holdings Inc. boosted its holdings in shares of General Motors by 0.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 131,623 shares of the auto manufacturer’s stock valued at $6,116,000 after buying an additional 1,083 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of General Motors by 14.5% in the 2nd quarter. UMB Bank n.a. now owns 7,010 shares of the auto manufacturer’s stock valued at $326,000 after buying an additional 887 shares in the last quarter. Finally, F M Investments LLC bought a new stake in shares of General Motors in the 2nd quarter valued at about $1,574,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Trading Up 0.6 %

Shares of GM opened at $49.75 on Friday. General Motors has a 52-week low of $26.30 and a 52-week high of $50.50. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The firm’s fifty day moving average is $46.04 and its two-hundred day moving average is $44.34. The stock has a market cap of $56.76 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 0.44 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.39. The firm had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.91 EPS. Research analysts forecast that General Motors will post 9.94 earnings per share for the current fiscal year.

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

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 0.96%. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the business’s 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 sale, the president now owns 162,049 shares in the company, valued at $7,455,874.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 391,402 shares of company stock worth $18,818,536. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GM shares. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a report on Monday, August 5th. UBS Group lifted their target price on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their target price 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. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley lowered shares of General Motors from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $46.00 to $47.00 in a research report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.17.

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.