Mitchell Mcleod Pugh & Williams Inc. Increases Holdings in General Motors (NYSE:GM)

Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,165 shares of the auto manufacturer’s stock after purchasing an additional 670 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in General Motors were worth $426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Public Employees Retirement Association of Colorado lifted its stake in shares of General Motors by 1,213.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock valued at $79,159,000 after purchasing an additional 2,035,925 shares during the last quarter. US Bancorp DE raised its position in General Motors by 59.3% in the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after purchasing an additional 32,331 shares during the period. GSA Capital Partners LLP lifted its stake in shares of General Motors by 317.6% during the 4th quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after acquiring an additional 51,571 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in General Motors by 5.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,327,552 shares of the auto manufacturer’s stock valued at $370,966,000 after acquiring an additional 558,765 shares during the last quarter. Finally, ACR Alpine Capital Research LLC increased its stake in General Motors by 8.4% in the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after buying an additional 492,693 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Mark L. Reuss sold 35,142 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was 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 directly owns 126,907 shares of the company’s stock, valued at $5,880,870.38. The disclosure for this sale can be found here. Insiders sold 391,402 shares of company stock worth $18,818,536 over the last ninety days. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Royal Bank of Canada dropped their price objective on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, August 9th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Wells Fargo & Company boosted their price target on shares of General Motors from $32.00 to $34.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley cut General Motors from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $46.00 to $47.00 in a research note on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and an average price target of $55.17.

General Motors Stock Up 0.6 %

NYSE GM traded up $0.31 during mid-day trading on Friday, reaching $49.78. 15,736,896 shares of the company’s stock traded hands, compared to its average volume of 12,115,744. The company has a fifty day simple moving average of $46.08 and a 200-day simple moving average of $44.45. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The company has a market cap of $55.95 billion, a price-to-earnings ratio of 6.09, a P/E/G ratio of 0.50 and a beta of 1.43. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.91 EPS. As a group, equities research analysts expect that General Motors will post 9.94 EPS for the current year.

General Motors declared that its board has approved a share buyback plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

General Motors Announces Dividend

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

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.