Eastern Bank Buys Shares of 754 General Motors (NYSE:GM)

Eastern Bank bought a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 754 shares of the auto manufacturer’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in General Motors in the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new stake in shares of General Motors in the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC raised 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 acquiring an additional 225 shares during the period. Montag A & Associates Inc. purchased a new stake in shares of General Motors in the 1st quarter valued at approximately $30,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of General Motors in the 2nd quarter valued at approximately $33,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GM. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. The Goldman Sachs Group boosted their price target on shares of 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 downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Wolfe Research started coverage on shares of General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Trading Down 1.2 %

Shares of General Motors stock opened at $52.07 on Friday. The company has a fifty day simple moving average of $47.81 and a 200-day simple moving average of $46.19. General Motors has a 12-month low of $26.30 and a 12-month high of $54.29. The company has a current ratio of 1.21, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The stock has a market cap of $58.52 billion, a price-to-earnings ratio of 5.55, a PEG ratio of 0.60 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter in the prior year, the business posted $2.28 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts forecast that General Motors will post 10.05 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid 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 is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Insider Buying and Selling

In related news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction 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 in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction 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 in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 531,228 shares of company stock worth $28,267,714 in the last 90 days. Company insiders own 0.72% of the company’s stock.

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.