General Motors (NYSE:GM) Shares Acquired by Coastwise Capital Group LLC

Coastwise Capital Group LLC boosted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 18.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,007 shares of the auto manufacturer’s stock after acquiring an additional 2,382 shares during the quarter. Coastwise Capital Group LLC’s holdings in General Motors were worth $673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of General Motors during the 2nd quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new stake in General Motors during the third quarter worth approximately $27,000. Wellington Shields Capital Management LLC purchased a new position in shares of General Motors in the 2nd quarter valued at $28,000. Truvestments Capital LLC acquired a new position in shares of General Motors during the 3rd quarter valued at $27,000. Finally, Fortitude Family Office LLC boosted its position in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on GM shares. The Goldman Sachs Group raised their price objective on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. Wells Fargo & Company increased 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. Barclays boosted their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group lifted their price target on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Price Performance

NYSE:GM opened at $55.59 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The firm has a market cap of $61.13 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. General Motors has a 12 month low of $31.52 and a 12 month high of $61.24. The company’s 50-day moving average price is $51.56 and its two-hundred day moving average price is $48.10.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period in the prior year, the company earned $2.28 EPS. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

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 issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.86%. General Motors’s dividend payout ratio is 5.12%.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $459,787.13. The trade was a 52.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock worth $56,509,286 in the last 90 days. Corporate insiders own 0.72% of the company’s stock.

About General Motors

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.