Stellar Capital Management LLC Grows Holdings in General Motors (GM)
Stellar Capital Management LLC raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,239 shares of the auto manufacturer’s stock after acquiring an additional 681 shares during the quarter. General Motors makes up approximately 1.4% of Stellar Capital Management LLC’s portfolio, making the stock its 28th biggest position. Stellar Capital Management LLC’s holdings in General Motors were worth $1,815,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Signet Investment Advisory Group Inc. purchased a new position in shares of General Motors in the 4th quarter valued at about $26,000. Cornerstone Advisors Inc. boosted its stake in shares of General Motors by 63.0% in the 4th quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 346 shares during the period. NuWave Investment Management LLC boosted its stake in shares of General Motors by 198.6% in the 4th quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 588 shares during the period. Advisors Preferred LLC purchased a new position in shares of General Motors in the 4th quarter valued at about $31,000. Finally, Vigilant Capital Management LLC purchased a new position in shares of General Motors in the 4th quarter valued at about $43,000. 77.59% of the stock is owned by institutional investors.
GM stock traded up $0.04 during trading on Tuesday, hitting $36.79. 174,443 shares of the company’s stock were exchanged, compared to its average volume of 8,911,490. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 1.71. General Motors has a 52-week low of $30.56 and a 52-week high of $45.00. The stock has a market cap of $51.36 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 0.63 and a beta of 1.28.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date was Thursday, March 7th. General Motors’s dividend payout ratio is currently 23.24%.
In other General Motors news, VP Christopher Hatto sold 8,499 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $40.00, for a total value of $339,960.00. Following the completion of the sale, the vice president now owns 10,040 shares in the company, valued at $401,600. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alan S. Batey sold 70,266 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $38.39, for a total value of $2,697,511.74. Following the completion of the sale, the insider now owns 205,906 shares of the company’s stock, valued at approximately $7,904,731.34. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut General Motors from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Seaport Global Securities started coverage on General Motors in a research note on Wednesday, February 13th. They set a “buy” rating for the company. Royal Bank of Canada boosted their target price on General Motors from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, February 7th. Deutsche Bank started coverage on General Motors in a research note on Thursday, December 13th. They set a “buy” rating for the company. Finally, Goldman Sachs Group set a $38.00 target price on General Motors and gave the stock a “hold” rating in a research note on Monday, January 14th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $46.97.
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About General Motors
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
Further Reading: Understanding each part of a balance sheet
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