General Motors (NYSE:GM) Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its position in General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 30.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 17,071 shares of the auto manufacturer’s stock after buying an additional 3,957 shares during the quarter. Pallas Capital Advisors LLC’s holdings in General Motors were worth $765,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in General Motors during the 2nd quarter worth $25,000. Wellington Shields Capital Management LLC bought a new position in General Motors in the 2nd quarter valued at about $28,000. Fortitude Family Office LLC increased its stake in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the period. Montag A & Associates Inc. bought a new stake in shares of General Motors during the 1st quarter worth about $30,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of General Motors in the 2nd quarter worth approximately $33,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Performance

Shares of General Motors stock opened at $51.96 on Thursday. General Motors has a 12 month low of $26.30 and a 12 month high of $54.29. The company has a quick ratio of 0.99, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The stock has a market cap of $57.14 billion, a PE ratio of 5.54, a price-to-earnings-growth ratio of 0.60 and a beta of 1.42. The business has a fifty day simple moving average of $48.17 and a 200-day simple moving average of $46.37.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the prior year, the business earned $2.28 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, sell-side analysts anticipate that General Motors will post 10.05 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is presently 5.12%.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 531,228 shares of company stock worth $28,267,714. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GM shares. UBS Group raised their price objective on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada boosted their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their target price on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company raised their price objective on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.92.

Read Our Latest Research Report on GM

General Motors Profile

(Free Report)

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.

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

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