General Motors (NYSE:GM) Shares Acquired by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC increased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 8.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,873 shares of the auto manufacturer’s stock after acquiring an additional 2,091 shares during the period. KMG Fiduciary Partners LLC’s holdings in General Motors were worth $997,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Trust Co. of Vermont increased its holdings in General Motors by 101.2% in the second quarter. Trust Co. of Vermont now owns 666 shares of the auto manufacturer’s stock valued at $26,000 after buying an additional 335 shares during the last quarter. Webster Bank N. A. increased its holdings in General Motors by 253.5% in the second quarter. Webster Bank N. A. now owns 700 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 502 shares during the last quarter. Massey Quick Simon & CO. LLC purchased a new position in General Motors in the first quarter valued at $35,000. Bremer Bank National Association purchased a new position in General Motors in the first quarter valued at $37,000. Finally, Truvestments Capital LLC purchased a new position in General Motors in the first quarter valued at $37,000. Institutional investors and hedge funds own 76.62% of the company’s stock.

Shares of GM stock opened at $39.08 on Wednesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.83 and a current ratio of 0.96. General Motors has a 1 year low of $30.56 and a 1 year high of $41.90. The business’s 50-day moving average price is $38.92. The stock has a market capitalization of $56.42 billion, a price-to-earnings ratio of 5.98, a price-to-earnings-growth ratio of 0.67 and a beta of 1.39.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.21. General Motors had a return on equity of 21.08% and a net margin of 6.31%. The firm had revenue of $36.06 billion for the quarter, compared to analyst estimates of $36.03 billion. During the same quarter last year, the company posted $1.81 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. On average, research analysts forecast that General Motors will post 6.67 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date is Thursday, September 5th. General Motors’s dividend payout ratio is currently 23.24%.

In related news, President Mark L. Reuss sold 275,944 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the transaction, the president now owns 479,413 shares of the company’s stock, valued at $19,190,902.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.51% of the company’s stock.

Several research firms recently commented on GM. Royal Bank of Canada increased their target price on General Motors to $52.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. Citigroup increased their target price on General Motors from $67.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 2nd. ValuEngine raised General Motors from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Credit Suisse Group started coverage on General Motors in a report on Wednesday, June 26th. They set an “outperform” rating and a $48.00 price objective on the stock. Finally, Zacks Investment Research lowered General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. General Motors presently has an average rating of “Buy” and an average target price of $47.58.

About General Motors

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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

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