Brooklyn Investment Group Acquires 11,169 Shares of General Motors Company $GM

Brooklyn Investment Group boosted its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 354.0% in the 1st quarter, HoldingsChannel reports. The firm owned 14,324 shares of the auto manufacturer’s stock after purchasing an additional 11,169 shares during the quarter. Brooklyn Investment Group’s holdings in General Motors were worth $674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of General Motors by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer’s stock valued at $4,672,023,000 after acquiring an additional 6,395,375 shares during the last quarter. Nuveen LLC bought a new position in shares of General Motors during the 1st quarter valued at approximately $175,889,000. Assenagon Asset Management S.A. boosted its position in shares of General Motors by 305.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer’s stock valued at $134,457,000 after acquiring an additional 2,154,037 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of General Motors during the 1st quarter valued at approximately $86,900,000. Finally, AustralianSuper Pty Ltd raised its holdings 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 valued at $287,428,000 after buying an additional 1,712,033 shares during the period. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Performance

Shares of General Motors stock opened at $56.26 on Tuesday. The firm has a market cap of $53.56 billion, a P/E ratio of 8.93, a P/E/G ratio of 1.19 and a beta of 1.36. 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 Company has a 12 month low of $41.60 and a 12 month high of $61.24. The stock’s fifty day moving average price is $51.87 and its 200-day moving average price is $48.95.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 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 return on equity of 12.98% and a net margin of 2.54%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.06 earnings per share. On average, equities research analysts expect that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. General Motors’s dividend payout ratio (DPR) is currently 9.52%.

Analyst Ratings Changes

Several analysts recently weighed in on GM shares. Sanford C. Bernstein set a $36.00 price target on General Motors in a report on Monday, May 5th. Piper Sandler restated a “neutral” rating and set a $48.00 price target (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Industrial Alliance Securities set a $70.00 price target on General Motors in a report on Friday, July 11th. Bank of America decreased their price target on General Motors from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price target on General Motors from $56.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $57.53.

Insider Buying and Selling at General Motors

In related news, CAO Christopher Hatto sold 36,804 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the sale, the chief accounting officer owned 12,007 shares of the company’s stock, valued at $661,585.70. This trade represents a 75.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rory Harvey sold 23,977 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the sale, the executive vice president directly owned 8,513 shares in the company, valued at approximately $451,274.13. The trade was a 73.80% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

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.