Edgemoor Investment Advisors Inc. Raises Position in General Motors (GM)

Edgemoor Investment Advisors Inc. lifted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 411,633 shares of the auto manufacturer’s stock after purchasing an additional 4,637 shares during the quarter. General Motors comprises 2.3% of Edgemoor Investment Advisors Inc.’s investment portfolio, making the stock its 11th largest position. Edgemoor Investment Advisors Inc.’s holdings in General Motors were worth $18,190,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Macquarie Group Ltd. boosted its stake in General Motors by 11.0% in the second quarter. Macquarie Group Ltd. now owns 79,000 shares of the auto manufacturer’s stock valued at $2,759,000 after acquiring an additional 7,800 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in General Motors by 99.6% in the second quarter. Westwood Holdings Group Inc. now owns 17,665 shares of the auto manufacturer’s stock valued at $617,000 after acquiring an additional 8,815 shares during the last quarter. Koch Industries Inc. bought a new position in General Motors in the second quarter valued at approximately $209,000. Afam Capital Inc. boosted its stake in General Motors by 3.3% in the second quarter. Afam Capital Inc. now owns 162,804 shares of the auto manufacturer’s stock valued at $5,687,000 after acquiring an additional 5,134 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in General Motors by 7.2% in the second quarter. Cetera Investment Advisers now owns 17,425 shares of the auto manufacturer’s stock valued at $602,000 after acquiring an additional 1,176 shares during the last quarter. 72.49% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on GM. Deutsche Bank raised their price objective on shares of General Motors from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. BMO Capital Markets raised shares of General Motors to a “market perform” rating and raised their price objective for the company from $41.00 to $48.00 in a research note on Wednesday, October 25th. Craig Hallum set a $45.00 price objective on shares of General Motors and gave the company a “hold” rating in a research note on Wednesday, October 25th. Royal Bank of Canada raised their price objective on shares of General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 25th. Finally, Morgan Stanley cut shares of General Motors from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $46.48 to $43.00 in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. General Motors presently has an average rating of “Hold” and a consensus target price of $44.32.

In related news, insider Barry L. Engle II sold 50,443 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $43.08, for a total value of $2,173,084.44. Following the sale, the insider now directly owns 57,091 shares of the company’s stock, valued at approximately $2,459,480.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stefan Jacoby sold 37,961 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $42.87, for a total transaction of $1,627,388.07. Following the completion of the sale, the executive vice president now directly owns 98,340 shares in the company, valued at $4,215,835.80. The disclosure for this sale can be found here. Insiders sold a total of 168,847 shares of company stock worth $7,363,108 over the last ninety days. 0.04% of the stock is currently owned by insiders.

General Motors (GM) opened at $41.46 on Friday. The firm has a market cap of $58,153.04, a price-to-earnings ratio of 6.32, a PEG ratio of 0.68 and a beta of 1.59. General Motors has a 52-week low of $31.92 and a 52-week high of $46.76. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 1.86.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.31. The company had revenue of $34.48 billion for the quarter, compared to analysts’ expectations of $34.28 billion. General Motors had a negative net margin of 2.58% and a positive return on equity of 22.86%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share. research analysts anticipate that General Motors will post 6.24 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be given a $0.38 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.52 annualized dividend and a yield of 3.67%. General Motors’s dividend payout ratio is currently -52.59%.

COPYRIGHT VIOLATION WARNING: “Edgemoor Investment Advisors Inc. Raises Position in General Motors (GM)” was first published by Community Financial News and is owned by of Community Financial News. If you are reading this story on another site, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The legal version of this story can be viewed at https://www.com-unik.info/2018/02/11/edgemoor-investment-advisors-inc-raises-position-in-general-motors-gm.html.

About General Motors

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM) (TSE:GMM.U).

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

Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit