Jackson Thornton Wealth Management LLC Makes New $329,000 Investment in General Motors Company $GM

Jackson Thornton Wealth Management LLC purchased a new position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,299 shares of the auto manufacturer’s stock, valued at approximately $329,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of GM. Trust Co. of Toledo NA OH acquired a new position in shares of General Motors during the second quarter worth about $25,000. GFG Capital LLC acquired a new position in shares of General Motors during the second quarter worth about $27,000. Costello Asset Management INC acquired a new position in shares of General Motors during the first quarter worth about $32,000. RMG Wealth Management LLC acquired a new position in shares of General Motors during the second quarter worth about $32,000. Finally, WPG Advisers LLC acquired a new position in shares of General Motors during the first quarter worth about $34,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 753,720 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $59.95, for a total value of $45,185,514.00. Following the completion of the sale, the chief executive officer directly owned 433,527 shares of the company’s stock, valued at approximately $25,989,943.65. This represents a 63.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 6,600 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $61.95, for a total value of $408,870.00. Following the completion of the sale, the executive vice president directly owned 8,513 shares of the company’s stock, valued at $527,380.35. The trade was a 43.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,074,824 shares of company stock valued at $122,377,213 over the last ninety days. 0.54% of the stock is owned by insiders.

General Motors Price Performance

GM stock opened at $57.95 on Tuesday. The company has a market capitalization of $55.17 billion, a P/E ratio of 9.20, a PEG ratio of 1.72 and a beta of 1.33. General Motors Company has a twelve month low of $41.60 and a twelve month high of $62.14. The business has a 50 day simple moving average of $58.13 and a 200-day simple moving average of $52.24. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.06 earnings per share. As a group, equities analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s dividend payout ratio is presently 9.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GM shares. CLSA raised General Motors to a “moderate buy” rating in a research report on Monday, July 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $77.00 price objective on shares of General Motors in a research report on Friday, October 10th. UBS Group raised General Motors from a “neutral” rating to a “buy” rating and upped their price target for the company from $56.00 to $81.00 in a report on Wednesday, September 24th. The Goldman Sachs Group upped their price target on General Motors from $70.00 to $74.00 and gave the company a “buy” rating in a report on Monday, September 29th. Finally, Evercore ISI upped their price target on General Motors from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, General Motors has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

General Motors Company 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.