Kingsview Wealth Management LLC Has $746,000 Holdings in General Motors (NYSE:GM)

Kingsview Wealth Management LLC raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 9.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,628 shares of the auto manufacturer’s stock after acquiring an additional 1,471 shares during the quarter. Kingsview Wealth Management LLC’s holdings in General Motors were worth $746,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in General Motors in the 2nd quarter worth $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors during the 3rd quarter worth approximately $27,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors in the 2nd quarter valued at about $28,000. Fortitude Family Office LLC increased its position in General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new position in shares of General Motors during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Sanford C. Bernstein lifted their price target on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. Finally, Wells Fargo & Company raised their price objective on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.92.

Insider Buying and Selling at General Motors

In other news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction that occurred 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 owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 42.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,030,475 shares of company stock worth $56,509,286. Insiders own 0.72% of the company’s stock.

General Motors Stock Performance

NYSE:GM opened at $55.50 on Thursday. General Motors has a fifty-two week low of $28.33 and a fifty-two week high of $61.24. The stock’s fifty day moving average is $51.29 and its 200 day moving average is $47.94. The firm has a market capitalization of $61.03 billion, a PE ratio of 5.92, a PEG ratio of 0.45 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.28 EPS. On average, sell-side analysts anticipate that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.86%. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

General Motors Company Profile

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.