Perigon Wealth Management LLC Purchases 532 Shares of General Motors (NYSE:GM)

Perigon Wealth Management LLC lifted its position in shares of General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,443 shares of the auto manufacturer’s stock after buying an additional 532 shares during the quarter. Perigon Wealth Management LLC’s holdings in General Motors were worth $1,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in shares of General Motors by 51.3% in the 2nd quarter. NewEdge Advisors LLC now owns 32,915 shares of the auto manufacturer’s stock valued at $1,529,000 after purchasing an additional 11,164 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in General Motors during the second quarter valued at approximately $25,000. Sanctuary Advisors LLC bought a new position in General Motors in the second quarter worth approximately $13,924,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in General Motors during the second quarter worth $1,580,000. Finally, Centaurus Financial Inc. boosted its position in General Motors by 2.1% during the 2nd quarter. Centaurus Financial Inc. now owns 11,628 shares of the auto manufacturer’s stock valued at $540,000 after acquiring an additional 238 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GM. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and upped their price objective for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. StockNews.com upgraded shares of General Motors from a “hold” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on shares of General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a research note on Wednesday. Sanford C. Bernstein raised their target price on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, Barclays upped their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, General Motors has a consensus rating of “Hold” and an average price target of $61.28.

Get Our Latest Report on General Motors

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 514,344 shares of company stock worth $28,977,691 in the last three months. Company insiders own 0.72% of the company’s stock.

General Motors Trading Down 0.8 %

NYSE GM opened at $49.39 on Friday. General Motors has a 1 year low of $37.60 and a 1 year high of $61.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The company has a market capitalization of $54.31 billion, a PE ratio of 5.27, a P/E/G ratio of 0.38 and a beta of 1.42. The company has a fifty day moving average of $52.94 and a 200 day moving average of $49.95.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 16.30% and a net margin of 6.06%. Research analysts forecast that General Motors will post 10.34 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is 7.80%.

General Motors Company Profile

(Free Report)

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.

Further Reading

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

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