Edgar Lomax Co. VA Takes Position in General Motors Company $GM

Key Points

• Edgar Lomax Co. VA acquired a new stake in General Motors, purchasing 243,855 shares valued around $11.47 million during the first quarter.
• Wall Street analysts have set a consensus target price of $57.53 for GM shares, with a mix of hold, buy, and sell ratings among different analysts.
• General Motors recently declared a quarterly dividend of $0.15 per share, with an annualized yield of 1.1% and a payout ratio of 9.52%.

Edgar Lomax Co. VA bought a new stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 243,855 shares of the auto manufacturer's stock, valued at approximately $11,469,000.

Several other large investors have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in General Motors by 456.1% during the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock worth $2,062,000 after acquiring an additional 31,755 shares in the last quarter. NewEdge Advisors LLC raised its position in General Motors by 202.6% during the 4th quarter. NewEdge Advisors LLC now owns 63,783 shares of the auto manufacturer's stock worth $3,398,000 after buying an additional 42,707 shares during the last quarter. Commerce Bank increased its holdings in shares of General Motors by 0.8% during the 4th quarter. Commerce Bank now owns 41,459 shares of the auto manufacturer's stock valued at $2,209,000 after purchasing an additional 316 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of General Motors by 12.8% during the 4th quarter. First Trust Advisors LP now owns 1,005,883 shares of the auto manufacturer's stock valued at $53,583,000 after purchasing an additional 113,905 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in General Motors by 57.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 294,980 shares of the auto manufacturer's stock valued at $15,714,000 after acquiring an additional 107,481 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GM shares. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a research report on Monday, May 5th. Bank of America decreased their price target on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Barclays lifted their price objective on General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Wedbush restated an "outperform" rating and set a $55.00 price objective on shares of General Motors in a research report on Wednesday, July 23rd. Finally, Piper Sandler reissued a "neutral" rating and set a $48.00 price target (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $57.53.

General Motors Price Performance

Shares of NYSE GM opened at $56.31 on Monday. The stock has a market cap of $53.61 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 1.19 and a beta of 1.36. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The company's 50-day moving average price is $51.70 and its 200 day moving average price is $48.91. General Motors Company has a 52 week low of $41.60 and a 52 week high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. During the same quarter in the previous year, the company posted $3.06 earnings per share. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, research analysts forecast that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. General Motors's payout ratio is presently 9.52%.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the transaction, the executive vice president directly owned 8,513 shares in the company, valued at $451,274.13. This represents a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Christopher Hatto sold 36,804 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total value of $2,027,900.40. Following the completion of the sale, the chief accounting officer owned 12,007 shares of the company's stock, valued at approximately $661,585.70. This trade represents a 75.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

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.

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