Alfred F. Kelly, Jr. Purchases 12,000 Shares of General Motors (NYSE:GM) Stock

General Motors (NYSE:GM) (TSE:GMM.U) Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

General Motors Price Performance

Shares of NYSE GM traded down $0.39 during trading on Thursday, reaching $49.39. The company had a trading volume of 16,417,157 shares, compared to its average volume of 10,730,515. General Motors has a 52 week low of $37.60 and a 52 week high of $61.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The business’s 50 day moving average price is $52.94 and its 200-day moving average price is $49.95. The stock has a market cap of $54.31 billion, a PE ratio of 5.27, a PEG ratio of 0.38 and a beta of 1.42.

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

General Motors Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Hourglass Capital LLC boosted its position in shares of General Motors by 0.5% during the fourth quarter. Hourglass Capital LLC now owns 79,147 shares of the auto manufacturer’s stock worth $4,216,000 after purchasing an additional 390 shares in the last quarter. Secured Retirement Advisors LLC acquired a new position in General Motors in the fourth quarter valued at about $1,131,000. Strategic Financial Concepts LLC bought a new stake in shares of General Motors in the fourth quarter worth about $783,000. Allworth Financial LP raised its position in shares of General Motors by 17.8% during the fourth quarter. Allworth Financial LP now owns 10,823 shares of the auto manufacturer’s stock worth $571,000 after purchasing an additional 1,639 shares during the period. Finally, Principal Securities Inc. lifted its holdings in shares of General Motors by 15.3% during the 4th quarter. Principal Securities Inc. now owns 32,693 shares of the auto manufacturer’s stock valued at $1,742,000 after purchasing an additional 4,334 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GM. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company boosted their price target on General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a research report on Wednesday. Barclays increased their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein boosted their target price on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. increased their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.28.

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.