CWA Asset Management Group LLC Purchases New Stake in General Motors (NYSE:GM)

CWA Asset Management Group LLC purchased a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 5,244 shares of the auto manufacturer’s stock, valued at approximately $235,000.

Several other institutional investors and hedge funds have also made changes to their positions in GM. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors during the 2nd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors during the 3rd quarter valued at approximately $27,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors during the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC increased 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 buying an additional 225 shares during the period. Finally, EdgeRock Capital LLC acquired a new stake in General Motors in the second quarter worth $33,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Price Performance

Shares of NYSE:GM opened at $57.41 on Wednesday. General Motors has a one year low of $26.64 and a one year high of $58.29. The stock has a fifty day moving average of $48.97 and a 200-day moving average of $46.98. The company has a market capitalization of $63.13 billion, a PE ratio of 6.14, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.

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

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.84%. General Motors’s payout ratio is currently 5.12%.

Insider Activity

In related news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Motors news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 653,511 shares of company stock worth $35,012,844 over the last quarter. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research report on Monday, August 5th. Wells Fargo & Company increased their target price on 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 lowered General Motors from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. 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 research report on Friday, October 11th. Finally, UBS Group increased their target price on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus price target of $56.92.

General Motors 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.