Legacy Advisors LLC Buys 3,202 Shares of General Motors (GM)

Legacy Advisors LLC grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 138.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,520 shares of the auto manufacturer’s stock after acquiring an additional 3,202 shares during the quarter. Legacy Advisors LLC’s holdings in General Motors were worth $186,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vicus Capital lifted its position in General Motors by 15.8% during the second quarter. Vicus Capital now owns 25,558 shares of the auto manufacturer’s stock worth $1,007,000 after buying an additional 3,483 shares during the period. Trilogy Capital Inc. lifted its position in General Motors by 32.3% during the second quarter. Trilogy Capital Inc. now owns 21,586 shares of the auto manufacturer’s stock worth $850,000 after buying an additional 5,265 shares during the period. Covenant Multifamily Offices LLC lifted its position in General Motors by 82.6% during the second quarter. Covenant Multifamily Offices LLC now owns 144,404 shares of the auto manufacturer’s stock worth $5,690,000 after buying an additional 65,343 shares during the period. Pegasus Partners Ltd. lifted its position in General Motors by 13.3% during the second quarter. Pegasus Partners Ltd. now owns 41,923 shares of the auto manufacturer’s stock worth $1,652,000 after buying an additional 4,934 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in General Motors by 3.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 5,597,704 shares of the auto manufacturer’s stock worth $220,550,000 after buying an additional 206,174 shares during the period. Institutional investors and hedge funds own 75.25% of the company’s stock.

Shares of NYSE:GM opened at $31.08 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.88 and a debt-to-equity ratio of 1.81. General Motors has a 12 month low of $30.97 and a 12 month high of $46.76. The stock has a market cap of $45.05 billion, a price-to-earnings ratio of 5.14, a PEG ratio of 0.66 and a beta of 1.55.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Wednesday, July 25th. The auto manufacturer reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.03. General Motors had a positive return on equity of 23.39% and a negative net margin of 3.26%. The business had revenue of $36.80 billion during the quarter, compared to analyst estimates of $36.62 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts predict that General Motors will post 5.94 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Friday, September 7th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.89%. General Motors’s dividend payout ratio (DPR) is currently 22.96%.

Several equities analysts recently weighed in on GM shares. Citigroup reduced their target price on General Motors to $60.00 and set a “buy” rating on the stock in a research report on Thursday, July 26th. Piper Jaffray Companies set a $51.00 price target on General Motors and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Guggenheim restated a “buy” rating and set a $52.00 price target on shares of General Motors in a research note on Friday, July 20th. Zacks Investment Research upgraded General Motors from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Thursday, June 28th. Finally, Bank of America restated a “buy” rating and set a $60.00 price target on shares of General Motors in a research note on Wednesday, September 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $46.83.

General Motors Company Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

Further Reading: Stock Split

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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