Jackson Thornton Wealth Management LLC Purchases New Shares in General Motors Company $GM

Jackson Thornton Wealth Management LLC bought a new position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,299 shares of the auto manufacturer’s stock, valued at approximately $329,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirova boosted its stake in General Motors by 4.1% during the 1st quarter. Mirova now owns 133,969 shares of the auto manufacturer’s stock worth $6,301,000 after purchasing an additional 5,293 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in General Motors by 6.3% during the 2nd quarter. Capital Investment Advisors LLC now owns 8,811 shares of the auto manufacturer’s stock worth $434,000 after purchasing an additional 526 shares during the last quarter. AustralianSuper Pty Ltd boosted its stake in General Motors by 38.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock worth $287,428,000 after purchasing an additional 1,712,033 shares during the last quarter. Boston Partners acquired a new stake in General Motors during the 1st quarter worth $719,000. Finally, Malaga Cove Capital LLC acquired a new stake in General Motors during the 1st quarter worth $292,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Down 0.7%

Shares of GM opened at $57.95 on Tuesday. The firm has a market cap of $55.17 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 1.72 and a beta of 1.33. General Motors Company has a 12-month low of $41.60 and a 12-month high of $62.14. The company’s 50-day moving average price is $58.13 and its 200 day moving average price is $52.24. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. General Motors’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.06 EPS. On average, sell-side analysts forecast that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, December 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, December 5th. General Motors’s payout ratio is 9.52%.

Analysts Set New Price Targets

Several brokerages have issued reports on GM. UBS Group raised shares of General Motors from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $81.00 in a research note on Wednesday, September 24th. The Goldman Sachs Group lifted their price target on General Motors from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Barclays lifted their price target on General Motors from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Jefferies Financial Group lifted their price target on General Motors from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, October 6th. Finally, Evercore ISI lifted their price target on General Motors from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.00.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 6,600 shares of the business’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $61.95, for a total value of $408,870.00. Following the sale, the executive vice president directly owned 8,513 shares in the company, valued at approximately $527,380.35. The trade was a 43.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Mark L. Reuss sold 136,161 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $60.12, for a total transaction of $8,185,999.32. Following the sale, the president owned 131,036 shares in the company, valued at $7,877,884.32. This trade represents a 50.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,074,824 shares of company stock valued at $122,377,213 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

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.