Brookstone Capital Management Trims Position in General Motors (NYSE:GM)

Brookstone Capital Management lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 165,314 shares of the auto manufacturer’s stock after selling 7,022 shares during the quarter. Brookstone Capital Management’s holdings in General Motors were worth $8,806,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GM. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors in the second quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new position in shares of General Motors in the third quarter worth approximately $27,000. Truvestments Capital LLC bought a new position in shares of General Motors in the third quarter worth approximately $27,000. Fairscale Capital LLC bought a new position in shares of General Motors in the second quarter worth approximately $36,000. Finally, Eastern Bank bought a new position in shares of General Motors in the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. This trade represents a 52.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $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 sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is currently owned by company insiders.

General Motors Stock Performance

Shares of GM stock opened at $49.88 on Tuesday. The stock has a fifty day moving average of $53.89 and a 200 day moving average of $49.53. General Motors has a 52 week low of $34.32 and a 52 week high of $61.24. The firm has a market capitalization of $54.85 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 0.40 and a beta of 1.42. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 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 company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the firm posted $2.28 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. As a group, research analysts expect that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, December 6th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Analyst Ratings Changes

Several research firms recently weighed in on GM. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a research report on Friday, October 11th. Sanford C. Bernstein upped their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, UBS Group increased their price target on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.58.

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.