Private Portfolio Partners LLC Invests $427,000 in General Motors (NYSE:GM)

Private Portfolio Partners LLC bought a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,088 shares of the auto manufacturer’s stock, valued at approximately $427,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of General Motors by 0.7% during the second quarter. Vanguard Group Inc. now owns 102,571,908 shares of the auto manufacturer’s stock worth $3,952,096,000 after purchasing an additional 717,703 shares during the period. BlackRock Inc. boosted its holdings in shares of General Motors by 6.7% during the first quarter. BlackRock Inc. now owns 83,427,385 shares of the auto manufacturer’s stock worth $3,095,158,000 after purchasing an additional 5,215,771 shares during the period. Northern Trust Corp boosted its holdings in shares of General Motors by 1.3% during the second quarter. Northern Trust Corp now owns 14,406,653 shares of the auto manufacturer’s stock worth $555,088,000 after purchasing an additional 184,349 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of General Motors by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 13,977,174 shares of the auto manufacturer’s stock worth $538,539,000 after purchasing an additional 99,948 shares during the period. Finally, FMR LLC boosted its holdings in shares of General Motors by 83.3% during the first quarter. FMR LLC now owns 8,016,745 shares of the auto manufacturer’s stock worth $297,421,000 after purchasing an additional 3,643,659 shares during the period. 76.80% of the stock is currently owned by institutional investors and hedge funds.

NYSE GM traded down $0.10 during trading on Wednesday, reaching $38.19. The company’s stock had a trading volume of 1,272,554 shares, compared to its average volume of 6,029,940. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $55.48 billion, a PE ratio of 5.84, a PEG ratio of 0.64 and a beta of 1.42. The business has a 50-day moving average price of $38.25 and a 200-day moving average price of $37.98. General Motors has a 1-year low of $30.56 and a 1-year high of $41.90.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.21. The firm had revenue of $36.06 billion during the quarter, compared to analysts’ expectations of $36.03 billion. General Motors had a net margin of 6.31% and a return on equity of 21.08%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 earnings per share. As a group, analysts expect that General Motors will post 6.8 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Thursday, September 5th. General Motors’s dividend payout ratio (DPR) is presently 23.24%.

Several research firms recently commented on GM. Credit Suisse Group began coverage on shares of General Motors in a report on Wednesday, June 26th. They set an “outperform” rating and a $48.00 price target for the company. Royal Bank of Canada raised their price target on shares of General Motors to $52.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. Morgan Stanley set a $46.00 price target on shares of General Motors and gave the stock a “buy” rating in a report on Monday, August 12th. Evercore ISI set a $50.00 price target on shares of General Motors and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Nomura set a $38.00 price target on shares of General Motors and gave the stock a “hold” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.58.

In other General Motors news, EVP Matthew Tsien sold 16,933 shares of General Motors stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $39.50, for a total value of $668,853.50. Following the completion of the sale, the executive vice president now directly owns 18,533 shares in the company, valued at $732,053.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Mark L. Reuss sold 275,944 shares of General Motors stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the completion of the sale, the president now owns 479,413 shares of the company’s stock, valued at $19,190,902.39. The disclosure for this sale can be found here. Insiders sold 375,944 shares of company stock valued at $14,996,038 over the last quarter. Corporate insiders own 0.51% of the company’s stock.

General Motors Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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