Princeton Global Asset Management LLC Acquires 303 Shares of General Motors Company $GM

Princeton Global Asset Management LLC increased its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 28.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,373 shares of the auto manufacturer’s stock after purchasing an additional 303 shares during the quarter. Princeton Global Asset Management LLC’s holdings in General Motors were worth $68,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GM. Vanguard Group Inc. lifted its stake in shares of General Motors by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer’s stock valued at $4,672,023,000 after purchasing an additional 6,395,375 shares during the period. Dimensional Fund Advisors LP increased its holdings in General Motors by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer’s stock valued at $676,322,000 after purchasing an additional 316,196 shares during the last quarter. Invesco Ltd. lifted its stake in General Motors by 4.5% in the first quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer’s stock valued at $646,482,000 after buying an additional 594,217 shares during the period. AQR Capital Management LLC lifted its stake in General Motors by 146.8% in the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer’s stock valued at $629,196,000 after buying an additional 8,012,743 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in General Motors by 17.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer’s stock worth $603,048,000 after buying an additional 1,910,186 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GM has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on General Motors from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of General Motors in a research note on Wednesday, October 8th. Mizuho lifted their price target on shares of General Motors from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Benchmark assumed coverage on shares of General Motors in a report on Monday, July 21st. They issued a “buy” rating and a $65.00 price target for the company. Finally, The Goldman Sachs Group raised their price objective on General Motors from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Insider Transactions at General Motors

In other General Motors news, CAO Christopher Hatto sold 36,804 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the completion of the transaction, the chief accounting officer owned 12,007 shares of the company’s stock, valued at $661,585.70. This represents a 75.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Mark L. Reuss sold 136,161 shares of General Motors stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $60.12, for a total transaction of $8,185,999.32. Following the completion of the sale, the president owned 131,036 shares in the company, valued at $7,877,884.32. This trade represents a 50.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,074,824 shares of company stock valued at $122,377,213 over the last three months. 0.54% of the stock is currently owned by corporate insiders.

General Motors Stock Down 0.7%

Shares of GM stock opened at $57.95 on Tuesday. General Motors Company has a 12-month low of $41.60 and a 12-month high of $62.14. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The firm has a fifty day moving average of $58.13 and a 200-day moving average of $52.24. The company has a market capitalization of $55.17 billion, a price-to-earnings ratio of 9.20, a P/E/G ratio of 1.72 and a beta of 1.33.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, beating the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion for the quarter, compared to analysts’ expectations of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.06 EPS. As a group, equities research analysts predict that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, December 5th. General Motors’s payout ratio is 9.52%.

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.