Princeton Global Asset Management LLC Purchases 303 Shares of General Motors Company $GM

Princeton Global Asset Management LLC lifted its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 28.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,373 shares of the auto manufacturer’s stock after purchasing an additional 303 shares during the quarter. Princeton Global Asset Management LLC’s holdings in General Motors were worth $68,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Sowell Financial Services LLC lifted its position in General Motors by 2.9% in the second quarter. Sowell Financial Services LLC now owns 6,834 shares of the auto manufacturer’s stock worth $336,000 after purchasing an additional 195 shares during the period. ICONIQ Capital LLC raised its stake in shares of General Motors by 4.2% in the 1st quarter. ICONIQ Capital LLC now owns 5,434 shares of the auto manufacturer’s stock valued at $256,000 after buying an additional 220 shares in the last quarter. Hohimer Wealth Management LLC lifted its holdings in shares of General Motors by 0.3% during the 1st quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer’s stock worth $3,310,000 after acquiring an additional 230 shares during the period. HHM Wealth Advisors LLC increased its stake in General Motors by 14.4% in the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer’s stock valued at $86,000 after acquiring an additional 232 shares during the period. Finally, Aaron Wealth Advisors LLC increased its stake in General Motors by 3.6% in the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer’s stock valued at $316,000 after acquiring an additional 235 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Price Performance

General Motors stock opened at $57.95 on Tuesday. The business’s fifty day moving average is $58.13 and its two-hundred day moving average is $52.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. The firm has a market cap of $55.17 billion, a P/E ratio of 9.20, a P/E/G ratio of 1.72 and a beta of 1.33. General Motors Company has a 52 week low of $41.60 and a 52 week high of $62.14.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.01. The company had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company posted $3.06 earnings per share. Equities research analysts forecast that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. General Motors’s payout ratio is currently 9.52%.

Insider Activity at General Motors

In related news, CAO Christopher Hatto sold 36,804 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total value of $2,027,900.40. Following the completion of the transaction, the chief accounting officer owned 12,007 shares in the company, valued at $661,585.70. The trade was a 75.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 907,024 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $58.24, for a total value of $52,825,077.76. Following the completion of the transaction, the chief executive officer owned 552,238 shares in the company, valued at $32,162,341.12. The trade was a 62.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,074,824 shares of company stock valued at $122,377,213 over the last ninety days. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GM shares. Mizuho lifted their price objective on General Motors from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, September 23rd. Jefferies Financial Group boosted their price target on General Motors from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. upped their price target on General Motors from $60.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, September 30th. Bank of America cut their price objective on General Motors from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Finally, UBS Group upgraded shares of General Motors from a “neutral” rating to a “buy” rating and boosted their target price for the company from $56.00 to $81.00 in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

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.