HBW Advisory Services LLC Makes New Investment in General Motors (NYSE:GM)

Posted by Defense World Staff on Jun 21st, 2023

HBW Advisory Services LLC purchased a new position in General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,222 shares of the auto manufacturer’s stock, valued at approximately $118,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GM. Blair William & Co. IL grew its stake in General Motors by 10.6% in the 1st quarter. Blair William & Co. IL now owns 157,520 shares of the auto manufacturer’s stock worth $6,890,000 after buying an additional 15,117 shares in the last quarter. Aviva PLC grew its stake in General Motors by 32.7% in the 1st quarter. Aviva PLC now owns 278,485 shares of the auto manufacturer’s stock worth $12,181,000 after buying an additional 68,683 shares in the last quarter. Moors & Cabot Inc. grew its stake in General Motors by 12.8% in the 1st quarter. Moors & Cabot Inc. now owns 10,767 shares of the auto manufacturer’s stock worth $471,000 after buying an additional 1,225 shares in the last quarter. Brighton Jones LLC grew its stake in General Motors by 13.9% in the 1st quarter. Brighton Jones LLC now owns 4,768 shares of the auto manufacturer’s stock worth $208,000 after buying an additional 581 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its stake in General Motors by 5.3% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 103,800 shares of the auto manufacturer’s stock worth $4,540,000 after buying an additional 5,184 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GM. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Motors from $37.00 to $35.00 in a research note on Wednesday, April 26th. Barclays cut their price objective on shares of General Motors from $45.00 to $42.00 in a research note on Wednesday, April 26th. Royal Bank of Canada upped their price objective on shares of General Motors from $46.00 to $48.00 in a research note on Wednesday, April 26th. Morgan Stanley raised shares of General Motors from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $35.00 to $38.00 in a research note on Monday, May 1st. Finally, StockNews.com initiated coverage on shares of General Motors in a research note on Thursday, May 18th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, General Motors presently has a consensus rating of “Moderate Buy” and an average price target of $49.81.

General Motors Stock Down 1.7 %

Shares of NYSE GM opened at $37.32 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.90 and a debt-to-equity ratio of 1.05. General Motors has a 12 month low of $30.33 and a 12 month high of $43.63. The firm has a market capitalization of $51.88 billion, a PE ratio of 5.77, a price-to-earnings-growth ratio of 0.56 and a beta of 1.33. The firm has a fifty day simple moving average of $34.07 and a two-hundred day simple moving average of $36.13.

General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 25th. The auto manufacturer reported $2.21 EPS for the quarter, topping the consensus estimate of $1.53 by $0.68. General Motors had a net margin of 5.84% and a return on equity of 15.74%. The business had revenue of $39.99 billion during the quarter, compared to analyst estimates of $39.38 billion. During the same period in the prior year, the business earned $2.09 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts expect that General Motors will post 6.84 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, June 2nd were paid a $0.09 dividend. The ex-dividend date was Thursday, June 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.96%. General Motors’s payout ratio is 5.56%.

Insider Buying and Selling

In other General Motors news, CFO Paul A. Jacobson purchased 31,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was bought at an average cost of $32.60 per share, for a total transaction of $1,010,600.00. Following the purchase, the chief financial officer now directly owns 186,847 shares in the company, valued at $6,091,212.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.

General Motors Company Profile

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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.

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

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