NorthRock Partners LLC Acquires 327 Shares of General Motors (NYSE:GM)

NorthRock Partners LLC grew its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,173 shares of the auto manufacturer’s stock after buying an additional 327 shares during the quarter. NorthRock Partners LLC’s holdings in General Motors were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. LifeSteps Financial Inc. purchased a new position in General Motors in the first quarter valued at approximately $25,000. Highlander Capital Management LLC bought a new stake in General Motors during the 4th quarter valued at $27,000. Cape Investment Advisory Inc. raised its holdings in General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares during the period. Montag A & Associates Inc. bought a new stake in General Motors during the 1st quarter valued at $30,000. Finally, YHB Investment Advisors Inc. bought a new stake in General Motors during the 1st quarter valued at $32,000. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GM. Citigroup upped their price target on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. UBS Group upped their price target on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Mizuho upped their price target on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada upped their price target on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Finally, Wells Fargo & Company upped their price target on shares of General Motors from $30.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and an average target price of $55.96.

General Motors Trading Down 0.4 %

NYSE GM traded down $0.19 during trading on Tuesday, hitting $49.11. 693,324 shares of the company’s stock traded hands, compared to its average volume of 15,689,984. The stock has a fifty day moving average of $46.09 and a two-hundred day moving average of $42.32. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. General Motors has a 12-month low of $26.30 and a 12-month high of $50.00. The firm has a market cap of $56.03 billion, a P/E ratio of 6.03, a PEG ratio of 0.52 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 earnings per share. As a group, sell-side analysts expect that General Motors will post 9.43 EPS for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. General Motors’s dividend payout ratio is currently 5.87%.

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

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 326,305 shares of the 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 completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the firm’s 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 transaction, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mary T. Barra sold 326,305 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,152,621 shares of company stock worth $51,818,111. 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.