Western Pacific Wealth Management LP Grows Position in General Motors (NYSE:GM)

Western Pacific Wealth Management LP increased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 51.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 9,117 shares of the auto manufacturer’s stock after purchasing an additional 3,095 shares during the period. General Motors makes up 0.4% of Western Pacific Wealth Management LP’s holdings, making the stock its 28th biggest holding. Western Pacific Wealth Management LP’s holdings in General Motors were worth $486,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in shares of General Motors by 2.3% in the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after acquiring an additional 205 shares during the period. Avestar Capital LLC grew its stake in shares of General Motors by 2.3% in the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after purchasing an additional 213 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after purchasing an additional 213 shares during the last quarter. Metis Global Partners LLC increased its holdings in General Motors by 0.6% during the 3rd quarter. Metis Global Partners LLC now owns 36,240 shares of the auto manufacturer’s stock valued at $1,625,000 after purchasing an additional 230 shares during the period. Finally, Centaurus Financial Inc. raised its position in General Motors by 2.1% during the 2nd quarter. Centaurus Financial Inc. now owns 11,628 shares of the auto manufacturer’s stock valued at $540,000 after purchasing an additional 238 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Insider Activity at General Motors

In other news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 514,344 shares of company stock valued at $28,977,691 over the last ninety days. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GM shares. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and boosted their target price for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Barclays raised their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. 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. Finally, Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $61.28.

General Motors Stock Performance

Shares of GM stock opened at $49.46 on Friday. The company has a market capitalization of $49.21 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 0.28 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.03 and a current ratio of 1.13. General Motors has a one year low of $37.60 and a one year high of $61.24. The company’s 50-day moving average is $52.64 and its 200 day moving average is $49.95.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Sell-side analysts expect that General Motors will post 11.45 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is currently 7.80%.

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.