Patton Fund Management Inc. Purchases New Position in General Motors (NYSE:GM)

Patton Fund Management Inc. acquired a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 79,122 shares of the auto manufacturer’s stock, valued at approximately $4,215,000.

A number of other institutional investors also recently modified their holdings of GM. Strategic Investment Solutions Inc. IL bought a new stake in General Motors during the 2nd quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors during the third quarter valued at approximately $27,000. Truvestments Capital LLC acquired a new stake in shares of General Motors in the third quarter valued at approximately $27,000. Sugar Maple Asset Management LLC bought a new position in General Motors in the 4th quarter worth approximately $31,000. Finally, Eastern Bank bought a new position in General Motors in the 3rd quarter valued at $34,000. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 8.8 %

Shares of NYSE:GM opened at $50.07 on Wednesday. General Motors has a 12-month low of $34.93 and a 12-month high of $61.24. The business has a 50 day moving average of $53.04 and a 200-day moving average of $49.95. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The stock has a market cap of $55.06 billion, a PE ratio of 5.34, a P/E/G ratio of 0.38 and a beta of 1.42.

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

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is currently 5.12%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GM. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research report on Wednesday, December 11th. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research note on Friday, October 11th. Sanford C. Bernstein upped their price objective on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Mizuho raised their target price on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada upped their price target on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors has an average rating of “Hold” and an average price target of $61.28.

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the transaction, the executive vice president now owns 122,465 shares in the company, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 514,344 shares of company stock valued at $28,977,691 over the last quarter. 0.72% of the stock is owned by corporate insiders.

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.