General Motors Company $GM Stock: Avestar Capital LLC Grows Position

Avestar Capital LLC boosted its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 63.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,832 shares of the auto manufacturer’s stock after buying an additional 8,050 shares during the period. Avestar Capital LLC’s holdings in General Motors were worth $1,604,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in General Motors in the second quarter worth about $599,066,000. NEOS Investment Management LLC lifted its stake in General Motors by 8.8% in the 2nd quarter. NEOS Investment Management LLC now owns 146,561 shares of the auto manufacturer’s stock worth $11,297,000 after acquiring an additional 11,901 shares in the last quarter. Junto Capital Management LP grew its stake in shares of General Motors by 33.9% in the 2nd quarter. Junto Capital Management LP now owns 976,798 shares of the auto manufacturer’s stock valued at $75,292,000 after buying an additional 247,302 shares in the last quarter. Engineers Gate Manager LP boosted its position in General Motors by 18.6% during the second quarter. Engineers Gate Manager LP now owns 1,290,019 shares of the auto manufacturer’s stock worth $99,435,000 after purchasing an additional 202,057 shares during the period. Finally, Wilsey Asset Management Inc. grew its stake in shares of General Motors by 2.1% in the second quarter. Wilsey Asset Management Inc. now owns 626,200 shares of the auto manufacturer’s stock worth $48,268,000 after acquiring an additional 12,617 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other news, EVP Grant Dixton sold 40,000 shares of General Motors stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $88.44, for a total value of $3,537,600.00. Following the sale, the executive vice president owned 54,992 shares in the company, valued at $4,863,492.48. This trade represents a 42.11% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.44% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GM has been the topic of several recent research reports. Jefferies Financial Group raised shares of General Motors from a “hold” rating to a “buy” rating and raised their target price for the company from $90.00 to $99.00 in a research note on Monday, July 27th. Tigress Financial upped their target price on General Motors from $130.00 to $132.00 and gave the stock a “strong-buy” rating in a report on Wednesday. TD Cowen reiterated a “buy” rating and issued a $132.00 price target on shares of General Motors in a report on Wednesday, October 21st. Benchmark reaffirmed a “buy” rating and set a $105.00 price target (up from $90.00) on shares of General Motors in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. reduced their target price on General Motors from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $101.44.

Key General Motors News

Here are the key news stories impacting General Motors this week:

• Positive Sentiment: Hybrid expansion strengthens product strategy: GM confirmed that its Lansing Delta Township plant will produce hybrid vehicles, including anticipated Chevrolet Traverse, GMC Acadia and Buick Enclave hybrids. The company and the Department of Energy are restructuring a previously awarded $500 million grant to support the investment, helping GM address demand for vehicles between traditional internal-combustion models and EVs. GM confirms Lansing Delta Township plant will produce hybrid vehicles
• Neutral Sentiment: Nasdaq listing planned: GM is reportedly shifting its stock listing to Nasdaq, potentially improving visibility among technology-oriented investors and aligning the automaker with other major companies that have made similar moves. The change is mainly a trading and branding development rather than an immediate change to GM’s operating fundamentals. GM is shifting gears to the Nasdaq
• Negative Sentiment: $220 million driver-data settlement adds legal and reputational costs: GM agreed to pay 36 states to resolve allegations that it sold or shared drivers’ vehicle-use, location and braking-behavior data with data brokers and insurers. The agreement requires affirmative express consent before collecting or sharing such information. State allocations include $7.2 million to Michigan, more than $6 million to Connecticut, $3 million to Maine, over $2.5 million to Alaska and $8 million to Ohio; drivers generally will not receive direct payments. The settlement could increase compliance costs and scrutiny of GM’s connected-car and OnStar data practices. GM reaches $220M settlement over selling drivers’ private data

General Motors Price Performance

GM stock opened at $87.33 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 1.32. The stock has a market cap of $73.67 billion, a PE ratio of 6.36, a P/E/G ratio of 0.48 and a beta of 1.40. General Motors Company has a 12 month low of $66.75 and a 12 month high of $91.85. The company has a 50-day moving average price of $83.09 and a 200 day moving average price of $80.62.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 20th. The auto manufacturer reported $3.70 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.01. The business had revenue of $50.02 billion for the quarter, compared to the consensus estimate of $48.78 billion. General Motors had a net margin of 2.12% and a return on equity of 19.36%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.80 EPS. Equities research analysts anticipate that General Motors Company will post 13.38 earnings per share for the current year.

General Motors announced that its board has authorized a share buyback plan on Tuesday, October 20th that allows the company to buy back $20 billion in shares. This repurchase authorization allows the auto manufacturer to reacquire up to 27.5% of its shares through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, December 4th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, December 4th. General Motors’s payout ratio is currently 16.51%.

General Motors Company Profile

General Motors Company (NYSE: GM) is a global automotive company headquartered in Detroit, Michigan. Founded in 1908, GM designs, manufactures and sells vehicles and related services through brands including Chevrolet, Buick, GMC and Cadillac.

GM’s product lineup includes passenger cars, pickup trucks, sport utility vehicles, commercial vehicles and electric vehicles. The company is also developing connected-vehicle technologies, driver-assistance systems and charging and energy-management solutions.