Lansing Street Advisors Grows Stake in General Motors (NYSE:GM)

Lansing Street Advisors grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 53.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,766 shares of the auto manufacturer’s stock after acquiring an additional 2,346 shares during the quarter. Lansing Street Advisors’ holdings in General Motors were worth $303,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Norden Group LLC acquired a new stake in shares of General Motors during the first quarter worth $493,000. Mission Wealth Management LP acquired a new position in shares of General Motors in the first quarter valued at about $262,000. Janney Montgomery Scott LLC lifted its holdings in shares of General Motors by 7.1% during the first quarter. Janney Montgomery Scott LLC now owns 410,901 shares of the auto manufacturer’s stock worth $18,634,000 after purchasing an additional 27,178 shares during the period. Nordea Investment Management AB boosted its position in General Motors by 3.6% in the first quarter. Nordea Investment Management AB now owns 100,090 shares of the auto manufacturer’s stock valued at $4,532,000 after buying an additional 3,433 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in General Motors by 0.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 165,050 shares of the auto manufacturer’s stock worth $7,485,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GM. Sanford C. Bernstein increased their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Barclays boosted their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group lifted their price target on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.92.

General Motors Stock Performance

NYSE:GM opened at $50.96 on Monday. The company has a market cap of $56.04 billion, a price-to-earnings ratio of 5.43, a price-to-earnings-growth ratio of 0.38 and a beta of 1.40. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a 52 week low of $26.30 and a 52 week high of $54.29. The company has a fifty day simple moving average of $48.31 and a two-hundred day simple moving average of $46.52.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter in the previous year, the business earned $2.28 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that General Motors will post 10.34 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is currently 5.12%.

Insider Buying and Selling

In other news, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $459,787.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 531,228 shares of company stock worth $28,267,714 in the last quarter. 0.72% of the stock is owned by insiders.

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.