Petrus Trust Company LTA Invests $604,000 in General Motors (NYSE:GM)

Petrus Trust Company LTA acquired a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,464 shares of the auto manufacturer’s stock, valued at approximately $604,000.

Several other large investors have also recently made changes to their positions in the company. Mather Group LLC. lifted its holdings in General Motors by 53.4% during the second quarter. Mather Group LLC. now owns 7,422 shares of the auto manufacturer’s stock valued at $337,000 after purchasing an additional 2,584 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of General Motors by 10.4% during the second quarter. Park Avenue Securities LLC now owns 32,326 shares of the auto manufacturer’s stock valued at $1,502,000 after acquiring an additional 3,033 shares during the last quarter. CWM LLC increased its position in shares of General Motors by 24.5% during the second quarter. CWM LLC now owns 48,883 shares of the auto manufacturer’s stock valued at $2,271,000 after acquiring an additional 9,630 shares during the last quarter. Simplicity Wealth LLC boosted its stake in shares of General Motors by 6.1% in the second quarter. Simplicity Wealth LLC now owns 25,812 shares of the auto manufacturer’s stock valued at $1,199,000 after purchasing an additional 1,490 shares during the period. Finally, BDF Gestion purchased a new position in shares of General Motors in the second quarter valued at approximately $2,886,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Down 0.6 %

Shares of NYSE:GM opened at $53.36 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a 52-week low of $32.66 and a 52-week high of $61.24. The company has a 50 day moving average of $51.97 and a two-hundred day moving average of $48.26. The company has a market capitalization of $58.67 billion, a price-to-earnings ratio of 5.69, a price-to-earnings-growth ratio of 0.42 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the business posted $2.28 earnings per share. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is 5.12%.

Insider Buying and Selling at General Motors

In related news, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the transaction, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GM shares. The Goldman Sachs Group boosted their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Sanford C. Bernstein boosted their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. upped their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a research report on Friday, October 11th. Finally, Wells Fargo & Company boosted their price objective on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $57.74.

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.