CWA Asset Management Group LLC Makes New Investment in General Motors (NYSE:GM)

CWA Asset Management Group LLC bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 5,244 shares of the auto manufacturer’s stock, valued at approximately $235,000.

Several other institutional investors also recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of General Motors in the 2nd quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of General Motors in the 3rd quarter worth about $27,000. Wellington Shields Capital Management LLC purchased a new stake in shares of General Motors in the 2nd quarter worth about $28,000. Fortitude Family Office LLC boosted its position in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in shares of General Motors in the 2nd quarter worth about $33,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on GM. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a research report on Friday, October 11th. Wolfe Research initiated coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Morgan Stanley downgraded shares of 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 note on Wednesday, September 25th. Wells Fargo & Company boosted their target price on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group boosted their target price on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.92.

General Motors Stock Down 0.4 %

Shares of NYSE:GM opened at $57.41 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a 1 year low of $26.64 and a 1 year high of $58.29. The stock has a market capitalization of $63.13 billion, a P/E ratio of 6.14, a PEG ratio of 0.42 and a beta of 1.40. The stock has a 50-day simple moving average of $48.97 and a 200-day simple moving average of $46.98.

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

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the transaction, the president now owns 126,907 shares in the company, valued at $7,000,190.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 653,511 shares of company stock worth $35,012,844 in the last 90 days. 0.72% of the stock is owned by company 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.