General Motors (NYSE:GM) Shares Bought by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. increased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 710.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 43,731 shares of the auto manufacturer’s stock after buying an additional 38,334 shares during the period. Lecap Asset Management Ltd.’s holdings in General Motors were worth $1,961,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GM. Park Avenue Securities LLC raised its position in shares of General Motors by 16.7% during the 1st quarter. Park Avenue Securities LLC now owns 29,293 shares of the auto manufacturer’s stock worth $1,328,000 after purchasing an additional 4,185 shares during the period. AdvisorNet Financial Inc increased its stake in General Motors by 16.5% during the 1st quarter. AdvisorNet Financial Inc now owns 7,916 shares of the auto manufacturer’s stock valued at $359,000 after buying an additional 1,122 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of General Motors in the 1st quarter worth approximately $2,644,000. Riverview Trust Co acquired a new position in shares of General Motors during the first quarter valued at approximately $38,000. Finally, Sound Income Strategies LLC lifted its position in General Motors by 13.6% in the first quarter. Sound Income Strategies LLC now owns 48,388 shares of the auto manufacturer’s stock worth $2,194,000 after purchasing an additional 5,778 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research report on Monday, August 5th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Finally, StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $55.35.

General Motors Price Performance

Shares of NYSE:GM opened at $53.73 on Wednesday. The company has a market cap of $61.30 billion, a price-to-earnings ratio of 6.57, a PEG ratio of 0.56 and a beta of 1.42. The business has a 50 day moving average price of $47.33 and a 200 day moving average price of $46.04. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a twelve month low of $26.30 and a twelve month high of $54.17.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter last year, the company posted $2.28 earnings per share. General Motors’s quarterly revenue was up 10.5% on a year-over-year basis. Research analysts predict that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.87%.

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.