Patton Fund Management Inc. Takes $4.22 Million Position in General Motors (NYSE:GM)

Patton Fund Management Inc. acquired a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 79,122 shares of the auto manufacturer’s stock, valued at approximately $4,215,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Creative Planning raised its stake in General Motors by 36.2% during the second quarter. Creative Planning now owns 190,247 shares of the auto manufacturer’s stock worth $8,839,000 after buying an additional 50,543 shares during the last quarter. NewEdge Advisors LLC grew its holdings in General Motors by 51.3% during the 2nd quarter. NewEdge Advisors LLC now owns 32,915 shares of the auto manufacturer’s stock worth $1,529,000 after acquiring an additional 11,164 shares during the period. Granite Bay Wealth Management LLC bought a new position in shares of General Motors in the 2nd quarter worth about $1,407,000. Teachers Retirement System of The State of Kentucky lifted its stake in shares of General Motors by 469.6% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 570,775 shares of the auto manufacturer’s stock valued at $26,517,000 after purchasing an additional 470,568 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors during the 2nd quarter worth approximately $25,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GM has been the topic of several research reports. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. upped their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Friday, October 11th. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Sanford C. Bernstein lifted their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $61.28.

Insider Buying and Selling

In other news, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Mark L. Reuss sold 122,283 shares of General Motors 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 sale, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 514,344 shares of company stock valued at $28,977,691. Company insiders own 0.72% of the company’s stock.

General Motors Stock Down 8.8 %

GM opened at $50.07 on Wednesday. General Motors has a twelve month low of $34.93 and a twelve month high of $61.24. 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 company’s 50-day moving average price is $53.04 and its two-hundred day moving average price is $49.95. The stock has a market cap of $55.06 billion, a price-to-earnings ratio of 5.34, a PEG ratio of 0.38 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 6.06% and a return on equity of 16.30%. As a group, equities analysts expect that General Motors will post 10.34 earnings per share for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is presently 5.12%.

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.