General Motors (NYSE:GM) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC grew its position in General Motors (NYSE:GM) (TSE:GMM.U) by 35.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,870 shares of the auto manufacturer’s stock after acquiring an additional 8,294 shares during the quarter. Procyon Advisors LLC’s holdings in General Motors were worth $1,445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Janiczek Wealth Management LLC boosted its stake in General Motors by 5.2% during the first quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock worth $230,000 after buying an additional 248 shares during the last quarter. Signet Financial Management LLC raised its holdings in shares of General Motors by 24.2% in the 1st quarter. Signet Financial Management LLC now owns 27,769 shares of the auto manufacturer’s stock valued at $1,259,000 after buying an additional 5,414 shares during the period. DGS Capital Management LLC increased its holdings in General Motors by 22.5% during the 1st quarter. DGS Capital Management LLC now owns 36,737 shares of the auto manufacturer’s stock worth $1,666,000 after purchasing an additional 6,742 shares during the period. Sovereign Financial Group Inc. purchased a new stake in General Motors during the 1st quarter worth about $230,000. Finally, Brookstone Capital Management increased its holdings in General Motors by 5.1% during the 1st quarter. Brookstone Capital Management now owns 158,321 shares of the auto manufacturer’s stock worth $7,180,000 after purchasing an additional 7,639 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In related news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other General Motors news, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $46.01, for a total value of $683,616.58. Following the transaction, the president now owns 162,049 shares in the company, valued at approximately $7,455,874.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,152,621 shares of company stock worth $51,818,111. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on GM shares. Morgan Stanley increased their price objective on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft raised their price objective on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Mizuho raised their price objective on General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wedbush raised their price objective on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, UBS Group raised their price objective on General Motors from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.91.

General Motors Trading Down 0.4 %

Shares of GM stock traded down $0.19 during mid-day trading on Thursday, hitting $45.58. 10,405,344 shares of the company’s stock were exchanged, compared to its average volume of 16,195,765. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35. The stock has a 50-day simple moving average of $45.45 and a two-hundred day simple moving average of $41.23. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The stock has a market cap of $52.00 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 0.49 and a beta of 1.46.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same quarter last year, the firm earned $2.21 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts expect that General Motors will post 9.43 EPS for the current fiscal year.

General Motors announced that its Board of Directors has initiated a share buyback program on Tuesday, June 11th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Friday, June 7th. General Motors’s payout ratio is currently 5.87%.

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.