Investment House LLC Invests $1.80 Million in General Motors (NYSE:GM)

Investment House LLC purchased a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 50,110 shares of the auto manufacturer’s stock, valued at approximately $1,800,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SouthState Corp raised its stake in shares of General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 485 shares during the last quarter. Highlander Capital Management LLC acquired a new stake in shares of General Motors during the fourth quarter worth $27,000. BluePath Capital Management LLC acquired a new stake in shares of General Motors during the third quarter worth $33,000. Bfsg LLC acquired a new stake in shares of General Motors during the fourth quarter worth $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of General Motors during the fourth quarter worth $36,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GM shares. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Sanford C. Bernstein started coverage on shares of General Motors in a research report on Thursday. They set an “outperform” rating and a $55.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Mizuho increased their price objective on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group increased their price objective on shares of General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.65.

General Motors Stock Up 0.5 %

Shares of NYSE GM traded up $0.23 during mid-day trading on Monday, reaching $46.07. 6,493,151 shares of the company’s stock traded hands, compared to its average volume of 17,322,256. The stock has a market cap of $52.56 billion, a P/E ratio of 5.60, a PEG ratio of 0.54 and a beta of 1.51. The business has a 50-day simple moving average of $42.27 and a 200 day simple moving average of $36.36. General Motors has a 1-year low of $26.30 and a 1-year high of $46.17. 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 (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the company earned $2.21 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. On average, analysts expect that General Motors will post 9.45 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Friday, June 7th. General Motors’s payout ratio is currently 5.87%.

Insider Activity at General Motors

In related news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Motors news, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the sale, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now directly owns 71,506 shares in the company, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock valued at $3,614,078 over the last ninety days. 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.