Portfolio Design Labs LLC Invests $1.72 Million in General Motors (NYSE:GM)

Portfolio Design Labs LLC bought a new stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 38,340 shares of the auto manufacturer's stock, valued at approximately $1,719,000.

Other institutional investors have also recently bought and sold shares of the company. SJS Investment Consulting Inc. raised its holdings in shares of General Motors by 34.5% in the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer's stock valued at $37,000 after purchasing an additional 203 shares during the last quarter. Allworth Financial LP grew its position in General Motors by 2.3% during the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer's stock valued at $412,000 after buying an additional 205 shares during the period. Fortitude Family Office LLC increased its stake in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer's stock worth $29,000 after purchasing an additional 225 shares in the last quarter. SeaCrest Wealth Management LLC increased its stake in shares of General Motors by 3.5% in the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer's stock worth $316,000 after purchasing an additional 227 shares in the last quarter. Finally, Institute for Wealth Management LLC. increased its stake in shares of General Motors by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer's stock worth $1,702,000 after purchasing an additional 230 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Insider Activity

In related news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares of the company's stock, valued at $489,942.36. This trade represents a 18.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the firm'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 completion of the transaction, the chief executive officer now directly owns 694,548 shares of the company's stock, valued at approximately $37,040,244.84. This represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,036,653 shares of company stock worth $56,710,175. Company insiders own 0.72% of the company's stock.

General Motors Price Performance

Shares of NYSE GM traded down $0.23 during midday trading on Wednesday, reaching $54.88. 12,182,821 shares of the stock traded hands, compared to its average volume of 14,884,377. 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 stock has a market capitalization of $60.35 billion, a PE ratio of 5.88, a P/E/G ratio of 0.43 and a beta of 1.40. General Motors has a one year low of $27.70 and a one year high of $59.39. The company's 50 day moving average is $50.10 and its 200 day moving average is $47.48.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the company earned $2.28 earnings per share. General Motors's revenue was up 10.5% on a year-over-year basis. On average, equities research analysts anticipate that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.87%. General Motors's dividend payout ratio is currently 5.12%.

Analyst Ratings Changes

Several research firms have recently weighed in on GM. UBS Group lifted their target price on shares of General Motors from $58.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Morgan Stanley downgraded shares of General Motors from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock 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 note on Monday, August 5th. The Goldman Sachs Group boosted their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada boosted their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, General Motors presently has a consensus rating of "Hold" and an average target price of $56.92.

General Motors 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.