Narwhal Capital Management Has $396,000 Stock Position in General Motors (NYSE:GM)

Narwhal Capital Management lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 10.5% during the third quarter, HoldingsChannel reports. The firm owned 8,831 shares of the auto manufacturer’s stock after selling 1,039 shares during the quarter. Narwhal Capital Management’s holdings in General Motors were worth $396,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Eastern Bank acquired a new stake in shares of General Motors in the 3rd quarter valued at approximately $34,000. Sequoia Financial Advisors LLC increased its position in General Motors by 29.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 55,969 shares of the auto manufacturer’s stock worth $2,510,000 after purchasing an additional 12,729 shares in the last quarter. Foundations Investment Advisors LLC lifted its stake in General Motors by 2.3% in the 3rd quarter. Foundations Investment Advisors LLC now owns 13,212 shares of the auto manufacturer’s stock valued at $592,000 after purchasing an additional 292 shares during the last quarter. Brown Lisle Cummings Inc. boosted its position in General Motors by 15.4% in the third quarter. Brown Lisle Cummings Inc. now owns 2,827 shares of the auto manufacturer’s stock valued at $127,000 after buying an additional 377 shares in the last quarter. Finally, OLD National Bancorp IN bought a new stake in shares of General Motors during the third quarter worth $269,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Up 9.8 %

Shares of GM stock opened at $53.73 on Wednesday. The company has a market cap of $61.30 billion, a P/E ratio of 6.57, a PEG ratio of 0.56 and a beta of 1.42. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.17. The stock has a 50 day simple moving average of $47.33 and a two-hundred day simple moving average of $46.04. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.39. The company had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. General Motors’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.91 EPS. Research analysts forecast that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.89%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Insider Activity

In other news, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction dated Friday, July 26th. The shares were bought at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GM. Barclays increased their price target on General Motors from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group lifted their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of General Motors in a research note on Wednesday, October 9th. Wells Fargo & Company cut their target price on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 10th. Finally, DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a report on Friday, October 11th. Four 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.35.

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.