Perigon Wealth Management LLC Boosts Holdings in General Motors (NYSE:GM)

Perigon Wealth Management LLC raised its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 18,026 shares of the auto manufacturer’s stock after acquiring an additional 316 shares during the quarter. Perigon Wealth Management LLC’s holdings in General Motors were worth $695,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Next Capital Management LLC purchased a new position in General Motors during the second quarter valued at $25,000. Trust Co. of Vermont raised its position in shares of General Motors by 101.2% in the second quarter. Trust Co. of Vermont now owns 666 shares of the auto manufacturer’s stock valued at $26,000 after buying an additional 335 shares during the last quarter. Webster Bank N. A. raised its position in shares of General Motors by 253.5% in the second quarter. Webster Bank N. A. now owns 700 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 502 shares during the last quarter. Kavar Capital Partners LLC acquired a new stake in shares of General Motors in the second quarter valued at about $37,000. Finally, Bremer Bank National Association acquired a new stake in shares of General Motors in the first quarter valued at about $37,000. 74.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE GM traded down $0.17 during mid-day trading on Tuesday, reaching $37.19. The company’s stock had a trading volume of 89,515 shares, compared to its average volume of 8,070,865. General Motors has a 1-year low of $30.56 and a 1-year high of $41.90. The stock has a market capitalization of $53.04 billion, a P/E ratio of 5.68, a P/E/G ratio of 0.61 and a beta of 1.39. The stock has a 50-day moving average of $39.13 and a two-hundred day moving average of $38.21. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.83 and a current ratio of 0.96.



General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.21. General Motors had a net margin of 6.31% and a return on equity of 21.08%. The firm had revenue of $36.06 billion during the quarter, compared to analysts’ expectations of $36.03 billion. During the same period last year, the business earned $1.81 earnings per share. General Motors’s revenue was down 1.9% compared to the same quarter last year. Analysts predict that General Motors will post 6.8 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Thursday, September 5th. General Motors’s payout ratio is currently 23.24%.

A number of equities research analysts have recently commented on GM shares. Nomura set a $38.00 target price on shares of General Motors and gave the company a “hold” rating in a research report on Wednesday, August 7th. ValuEngine cut shares of General Motors from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Royal Bank of Canada increased their target price on shares of General Motors to $52.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Evercore ISI set a $50.00 target price on shares of General Motors and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley set a $46.00 target price on shares of General Motors and gave the company a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $47.62.

In related news, President Mark L. Reuss sold 275,944 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the completion of the sale, the president now directly owns 479,413 shares in the company, valued at $19,190,902.39. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.51% of the stock is currently owned by company insiders.

General Motors Company Profile

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.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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