Kestra Investment Management LLC Takes Position in General Motors (NYSE:GM)

Kestra Investment Management LLC purchased a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,120 shares of the auto manufacturer’s stock, valued at approximately $219,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new position in General Motors in the fourth quarter valued at about $25,000. Crews Bank & Trust bought a new stake in shares of General Motors in the 4th quarter worth approximately $26,000. Catalyst Capital Advisors LLC purchased a new position in General Motors in the third quarter valued at approximately $27,000. Truvestments Capital LLC bought a new position in General Motors during the third quarter valued at $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in General Motors in the fourth quarter worth $28,000. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

GM stock opened at $47.77 on Thursday. The firm has a 50 day simple moving average of $50.90 and a two-hundred day simple moving average of $50.13. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a market cap of $47.53 billion, a PE ratio of 7.77, a P/E/G ratio of 0.68 and a beta of 1.40. General Motors has a one year low of $38.13 and a one year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors’s payout ratio is 7.80%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on GM. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. boosted their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Wedbush lifted their price objective on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their target price on General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $59.71.

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.