Townsquare Capital LLC Raises Stock Holdings in General Motors (NYSE:GM)

Townsquare Capital LLC lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,693 shares of the auto manufacturer’s stock after acquiring an additional 6,729 shares during the period. Townsquare Capital LLC’s holdings in General Motors were worth $3,215,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Strategic Investment Solutions Inc. IL purchased a new position in General Motors during the 2nd quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new position in General Motors in the 3rd quarter valued at about $27,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors during the 2nd quarter valued at approximately $28,000. Truvestments Capital LLC acquired a new stake in General Motors during the 3rd quarter worth approximately $27,000. Finally, Fortitude Family Office LLC grew its stake in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on GM. Royal Bank of Canada upped their price target on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. Finally, Barclays boosted their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Trading Up 0.2 %

Shares of GM opened at $55.62 on Friday. 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 1-year low of $31.52 and a 1-year high of $61.24. The stock has a market cap of $61.16 billion, a price-to-earnings ratio of 5.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The firm has a 50 day simple moving average of $51.56 and a 200-day simple moving average of $48.06.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. General Motors’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.28 earnings per share. Equities analysts forecast that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

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

Insider Activity at General Motors

In other news, EVP Craig B. Glidden sold 383,142 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the transaction, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. This represents a 75.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. Company insiders own 0.72% of the company’s stock.

About General Motors

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.