General Motors (NYSE:GM) is ACR Alpine Capital Research LLC’s 3rd Largest Position

ACR Alpine Capital Research LLC lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,321,758 shares of the auto manufacturer’s stock after selling 15,789 shares during the period. General Motors comprises about 9.1% of ACR Alpine Capital Research LLC’s portfolio, making the stock its 3rd largest holding. ACR Alpine Capital Research LLC owned 0.56% of General Motors worth $293,709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GM. Capital World Investors boosted its holdings in General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after buying an additional 6,201,777 shares during the last quarter. Putnam Investments LLC boosted its holdings in General Motors by 16.8% in the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after buying an additional 2,905,689 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in General Motors by 21.9% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after buying an additional 3,247,050 shares during the last quarter. Norges Bank acquired a new stake in General Motors in the 4th quarter worth about $602,280,000. Finally, Franklin Resources Inc. boosted its holdings in General Motors by 12.0% in the 4th quarter. Franklin Resources Inc. now owns 13,731,249 shares of the auto manufacturer’s stock worth $493,226,000 after buying an additional 1,472,297 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other news, President Mark L. Reuss sold 35,142 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $46.34, for a total transaction of $1,628,480.28. Following the completion of the sale, the president now owns 126,907 shares in the company, valued at $5,880,870.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, President Mark L. Reuss sold 35,142 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $46.34, for a total transaction of $1,628,480.28. Following the completion of the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $5,880,870.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the 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 transaction, the president now directly owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The disclosure for this sale can be found here. Insiders sold 391,402 shares of company stock worth $18,818,536 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Up 0.6 %

Shares of GM stock traded up $0.31 on Friday, reaching $49.78. 15,736,896 shares of the stock were exchanged, compared to its average volume of 12,115,744. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The business’s 50 day moving average price is $46.08 and its 200 day moving average price is $44.45. The company has a market capitalization of $55.95 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 0.50 and a beta of 1.43. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50.

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

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

General Motors Announces Dividend

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

Analysts Set New Price Targets

GM has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their target price on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Wells Fargo & Company upped their price objective on General Motors from $32.00 to $34.00 and gave the company an “underweight” rating in a report on Wednesday, July 24th. Nomura Securities upgraded General Motors to a “strong sell” rating in a report on Monday, August 5th. Bank of America reissued a “buy” rating and issued a $75.00 target price on shares of General Motors in a research report on Wednesday, June 12th. Finally, Royal Bank of Canada cut their target price on General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Three investment 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 company’s stock. According to data from MarketBeat, General Motors presently has an average rating of “Moderate Buy” and a consensus target price of $55.17.

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.