Pallas Capital Advisors LLC Boosts Stake in General Motors (NYSE:GM)

Pallas Capital Advisors LLC increased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 75.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,114 shares of the auto manufacturer’s stock after buying an additional 5,642 shares during the period. Pallas Capital Advisors LLC’s holdings in General Motors were worth $651,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GM. ZWJ Investment Counsel Inc. boosted its stake in General Motors by 1.7% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 380,637 shares of the auto manufacturer’s stock valued at $17,684,000 after purchasing an additional 6,198 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in General Motors by 3.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 196,011 shares of the auto manufacturer’s stock valued at $9,107,000 after purchasing an additional 7,136 shares during the last quarter. TCW Group Inc. boosted its stake in General Motors by 49.9% during the 2nd quarter. TCW Group Inc. now owns 986,762 shares of the auto manufacturer’s stock valued at $45,845,000 after purchasing an additional 328,649 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of General Motors by 3.2% in the 2nd quarter. Brookstone Capital Management now owns 163,350 shares of the auto manufacturer’s stock worth $8,151,000 after buying an additional 5,029 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of General Motors by 178.3% in the 2nd quarter. Blue Trust Inc. now owns 2,510 shares of the auto manufacturer’s stock worth $114,000 after buying an additional 1,608 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Trading Up 1.5 %

NYSE GM traded up $0.67 during trading hours on Wednesday, hitting $46.65. 3,267,475 shares of the company were exchanged, compared to its average volume of 15,683,114. The stock has a 50-day moving average price of $45.94 and a 200 day moving average price of $43.93. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50. The stock has a market cap of $53.23 billion, a PE ratio of 5.69, a price-to-earnings-growth ratio of 0.44 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. During the same quarter in the previous year, the business earned $1.91 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts forecast that General Motors will post 9.94 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors announced that its board has authorized a share repurchase program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GM shares. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Mizuho boosted their price objective on General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Nomura Securities upgraded General Motors to a “strong sell” rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.17.

Insider Buying and Selling at General Motors

In related news, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $46.01, for a total value of $683,616.58. Following the completion of the sale, the president now owns 162,049 shares of the company’s stock, valued at approximately $7,455,874.49. The disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock worth $51,818,111 over 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.