BOS Asset Management LLC Has $405,000 Holdings in General Motors (NYSE:GM)

BOS Asset Management LLC lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,726 shares of the auto manufacturer’s stock after selling 350 shares during the period. BOS Asset Management LLC’s holdings in General Motors were worth $405,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Capital World Investors boosted its position in General Motors by 14.6% in the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after buying an additional 6,201,777 shares in the last quarter. Putnam Investments LLC raised its stake in shares of General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after acquiring an additional 2,905,689 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after acquiring an additional 3,247,050 shares during the last quarter. Norges Bank bought a new position in shares of General Motors during the fourth quarter valued at $602,280,000. Finally, Franklin Resources Inc. raised its stake in shares of General Motors by 12.0% during the fourth quarter. Franklin Resources Inc. now owns 13,731,249 shares of the auto manufacturer’s stock valued at $493,226,000 after acquiring an additional 1,472,297 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GM shares. Morgan Stanley downgraded shares of General Motors from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $46.00 to $47.00 in a research note on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and set a $55.00 price target on shares of General Motors in a research note on Wednesday, July 24th. Royal Bank of Canada lowered their target price on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. 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. Finally, Bank of America reissued a “buy” rating and set a $75.00 target price on shares of General Motors in a research note on Wednesday, June 12th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.17.

General Motors Stock Up 0.6 %

Shares of NYSE GM opened at $49.75 on Friday. The stock has a market capitalization of $56.76 billion, a P/E ratio of 6.08, a P/E/G ratio of 0.44 and a beta of 1.43. The company has a 50-day moving average price of $46.04 and a 200-day moving average price of $44.34. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The firm had revenue of $47.97 billion during 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 business’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.91 earnings per share. On average, equities research analysts forecast that General Motors will post 9.94 EPS for the current fiscal year.

General Motors Dividend Announcement

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

General Motors announced that its Board of Directors has approved a stock repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the transaction, the chief executive officer now directly owns 898,648 shares in the company, valued at $43,431,657.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other General Motors news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the completion of the sale, the chief executive officer now directly owns 898,648 shares in the company, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. Insiders sold 391,402 shares of company stock worth $18,818,536 over the last three months. 0.72% of the stock is currently owned by insiders.

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.