Mitchell Mcleod Pugh & Williams Inc. Grows Stock Position in General Motors (NYSE:GM)

Mitchell Mcleod Pugh & Williams Inc. lifted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 18.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,894 shares of the auto manufacturer’s stock after buying an additional 1,729 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in General Motors were worth $489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of General Motors during the second quarter worth approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in General Motors in the third quarter worth $27,000. Wellington Shields Capital Management LLC purchased a new position in General Motors in the second quarter worth $28,000. Fortitude Family Office LLC raised its position in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares in the last quarter. Finally, Montag A & Associates Inc. purchased a new position in General Motors in the first quarter worth $30,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GM shares. JPMorgan Chase & Co. increased their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a report on Monday, August 5th. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a report on Friday, October 11th. UBS Group upped their target price on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Wolfe Research assumed coverage on General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Four investment 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.92.

General Motors Trading Up 0.3 %

NYSE:GM traded up $0.19 during mid-day trading on Friday, reaching $55.58. The company’s stock had a trading volume of 10,247,531 shares, compared to its average volume of 12,516,410. The company’s fifty day simple moving average is $48.81 and its two-hundred day simple moving average is $46.87. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. General Motors has a twelve month low of $26.30 and a twelve month high of $56.08. The stock has a market cap of $61.12 billion, a P/E ratio of 5.93, a P/E/G ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period last year, the company earned $2.28 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts predict that General Motors will post 10.34 EPS for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is 5.12%.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction dated 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 transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction dated 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 transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $459,787.13. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 653,511 shares of company stock valued at $35,012,844. Insiders own 0.72% 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.