True Wealth Design LLC Grows Stock Holdings in General Motors (NYSE:GM)

True Wealth Design LLC grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 1,273.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 838 shares of the auto manufacturer’s stock after purchasing an additional 777 shares during the period. True Wealth Design LLC’s holdings in General Motors were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec raised its stake in General Motors by 972.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after purchasing an additional 1,906,964 shares during the period. Jennison Associates LLC raised its position in shares of General Motors by 123.1% during the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after buying an additional 1,779,897 shares during the period. Artemis Investment Management LLP lifted its holdings in General Motors by 581.4% in the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock valued at $71,827,000 after acquiring an additional 1,366,768 shares during the last quarter. Dimensional Fund Advisors LP grew its position in General Motors by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after acquiring an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. grew its position in General Motors by 3,333.1% in the second quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock worth $36,394,000 after acquiring an additional 760,523 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Up 0.2 %

Shares of NYSE:GM opened at $55.59 on Monday. General Motors has a fifty-two week low of $31.52 and a fifty-two week high of $61.24. The firm’s 50 day moving average price is $51.56 and its 200 day moving average price is $48.10. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The stock has a market cap of $61.13 billion, a price-to-earnings ratio of 5.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period last year, the business earned $2.28 EPS. As a group, equities research analysts predict that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. General Motors’s dividend payout ratio is currently 5.12%.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GM shares. Barclays upped their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research report on Friday, October 11th. UBS Group lifted their price target on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wolfe Research assumed coverage on shares of General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $47.00 to $42.00 in a research report 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’s stock. According to data from MarketBeat, General Motors currently has an average rating of “Hold” and a consensus price target of $56.92.

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.