Howard Bailey Securities LLC Purchases New Holdings in General Motors (NYSE:GM)

Howard Bailey Securities LLC purchased a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,553 shares of the auto manufacturer’s stock, valued at approximately $296,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in General Motors during the fourth quarter worth $25,000. Crews Bank & Trust acquired a new position in shares of General Motors during the 4th quarter worth $26,000. Catalyst Capital Advisors LLC purchased a new stake in shares of General Motors in the 3rd quarter worth about $27,000. Truvestments Capital LLC acquired a new stake in General Motors in the 3rd quarter valued at about $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in General Motors during the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Mizuho increased their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, December 11th. Royal Bank of Canada lifted their price objective on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and lifted their price target for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.28.

General Motors Stock Performance

Shares of GM stock opened at $47.71 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a 12-month low of $37.83 and a 12-month high of $61.24. The business has a 50 day simple moving average of $51.49 and a 200 day simple moving average of $49.98. The firm has a market capitalization of $47.47 billion, a price-to-earnings ratio of 7.76, a price-to-earnings-growth ratio of 0.68 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its 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 return on equity of 15.29% and a net margin of 3.21%. On average, equities research analysts anticipate that General Motors will post 11.28 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction dated Monday, November 18th. The stock was 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 directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

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.