Secured Retirement Advisors LLC Takes $1.13 Million Position in General Motors (NYSE:GM)

Secured Retirement Advisors LLC purchased a new position in General Motors (NYSE:GM - Free Report) TSE: GMM.U during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 21,232 shares of the auto manufacturer's stock, valued at approximately $1,131,000.

Several other hedge funds have also recently bought and sold shares of GM. Strategic Financial Concepts LLC acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $783,000. Allworth Financial LP grew its holdings in General Motors by 17.8% during the 4th quarter. Allworth Financial LP now owns 10,823 shares of the auto manufacturer's stock valued at $571,000 after buying an additional 1,639 shares during the last quarter. Principal Securities Inc. increased its position in General Motors by 15.3% during the fourth quarter. Principal Securities Inc. now owns 32,693 shares of the auto manufacturer's stock worth $1,742,000 after buying an additional 4,334 shares in the last quarter. Palumbo Wealth Management LLC acquired a new position in shares of General Motors in the fourth quarter worth $297,000. Finally, WASHINGTON TRUST Co lifted its position in shares of General Motors by 65.0% in the fourth quarter. WASHINGTON TRUST Co now owns 1,015 shares of the auto manufacturer's stock valued at $54,000 after acquiring an additional 400 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Down 0.8 %

GM traded down $0.36 during trading on Wednesday, hitting $47.77. 6,832,460 shares of the company's stock were exchanged, compared to its average volume of 10,818,463. The stock has a 50 day moving average price of $50.98 and a 200 day moving average price of $50.14. General Motors has a 1 year low of $38.13 and a 1 year high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The firm has a market cap of $47.53 billion, a P/E ratio of 7.77, a price-to-earnings-growth ratio of 0.68 and a beta of 1.40.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results 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 15.29% and a net margin of 3.21%. As a group, analysts expect that General Motors will post 11.44 EPS for the current fiscal 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 given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, March 7th. General Motors's dividend payout ratio (DPR) is 7.80%.

Wall Street Analysts Forecast Growth

GM has been the subject of a number of recent research reports. Wedbush lifted their price objective on General Motors from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Morgan Stanley upgraded shares of General Motors from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Mizuho upped their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Sanford C. Bernstein lifted their target price on shares of General Motors from $53.00 to $55.00 and gave the stock a "market perform" rating in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft raised General Motors from a "hold" rating to a "buy" rating and increased their price target for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $59.71.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business's stock in a transaction on Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.72% of the company's stock.

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.