PSI Advisors LLC Cuts Holdings in General Motors (NYSE:GM)

PSI Advisors LLC trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 18.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,605 shares of the auto manufacturer’s stock after selling 800 shares during the quarter. PSI Advisors LLC’s holdings in General Motors were worth $167,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GM. LifeSteps Financial Inc. purchased a new position in General Motors during the 1st quarter valued at about $25,000. Fortitude Family Office LLC increased its stake in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the period. Cape Investment Advisory Inc. lifted its stake in General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares during the period. Montag A & Associates Inc. bought a new stake in General Motors in the first quarter valued at $30,000. Finally, YHB Investment Advisors Inc. purchased a new position in General Motors during the 1st quarter valued at $32,000. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GM shares. Bank of America reaffirmed a “buy” rating and issued a $75.00 target price on shares of General Motors in a research report on Wednesday, June 12th. Sanford C. Bernstein initiated coverage on General Motors in a research report on Thursday, April 25th. They set an “outperform” rating and a $55.00 price objective on the stock. Nomura Securities upgraded General Motors to a “strong sell” rating in a report on Monday, August 5th. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research report on Monday, August 5th. Finally, Barclays lifted their price target on shares of General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

Insiders Place Their Bets

In related news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares in the company, valued at approximately $7,684,840.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the sale, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock valued at $51,818,111 over the last three months. 0.72% of the stock is owned by company insiders.

General Motors Price Performance

GM traded down $0.10 during trading hours on Thursday, hitting $46.46. The company’s stock had a trading volume of 6,529,248 shares, compared to its average volume of 15,680,452. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. 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 $45.87 and its 200-day moving average price is $43.97. The stock has a market cap of $53.01 billion, a price-to-earnings ratio of 5.68, a P/E/G ratio of 0.44 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) 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 business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 EPS. Sell-side analysts expect that General Motors will post 9.94 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s dividend payout ratio is currently 5.87%.

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

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.