Shikiar Asset Management Inc. Purchases New Shares in General Motors (NYSE:GM)

Shikiar Asset Management Inc. purchased a new stake in General Motors (NYSE:GMGet Rating) (TSE:GMM.U) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 62,970 shares of the auto manufacturer’s stock, valued at approximately $2,754,000. General Motors makes up 0.8% of Shikiar Asset Management Inc.’s portfolio, making the stock its 29th largest holding.

A number of other large investors also recently added to or reduced their stakes in GM. NuWave Investment Management LLC bought a new stake in General Motors in the fourth quarter valued at $28,000. FSB Premier Wealth Management Inc. bought a new stake in General Motors in the fourth quarter valued at $28,000. Sandy Cove Advisors LLC bought a new stake in General Motors in the fourth quarter valued at $30,000. Hanson & Doremus Investment Management boosted its holdings in General Motors by 793.7% in the fourth quarter. Hanson & Doremus Investment Management now owns 563 shares of the auto manufacturer’s stock valued at $33,000 after acquiring an additional 500 shares in the last quarter. Finally, Tyler Stone Wealth Management bought a new stake in General Motors in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 82.66% of the company’s stock.

A number of brokerages have recently commented on GM. JPMorgan Chase & Co. dropped their target price on shares of General Motors from $75.00 to $71.00 in a report on Monday, April 25th. Benchmark dropped their target price on shares of General Motors from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, March 11th. Jefferies Financial Group dropped their target price on shares of General Motors from $53.00 to $44.00 and set a “hold” rating on the stock in a report on Tuesday, March 15th. TheStreet cut shares of General Motors from a “b-” rating to a “c+” rating in a report on Friday, May 20th. Finally, Wolfe Research boosted their target price on shares of General Motors from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, March 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, General Motors presently has an average rating of “Moderate Buy” and an average price target of $61.16.

NYSE GM opened at $32.83 on Thursday. General Motors has a 52 week low of $30.65 and a 52 week high of $67.21. The firm has a market capitalization of $47.87 billion, a P/E ratio of 5.44, a PEG ratio of 0.48 and a beta of 1.20. The company has a quick ratio of 0.93, a current ratio of 1.11 and a debt-to-equity ratio of 1.15. The company has a 50-day moving average price of $37.38 and a 200-day moving average price of $46.16.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 26th. The auto manufacturer reported $2.09 EPS for the quarter, beating the consensus estimate of $1.56 by $0.53. General Motors had a net margin of 7.61% and a return on equity of 16.37%. The firm had revenue of $35.98 billion during the quarter, compared to analyst estimates of $36.25 billion. During the same quarter in the prior year, the firm earned $2.25 EPS. As a group, equities research analysts anticipate that General Motors will post 6.89 EPS for the current year.

In related news, EVP Stephen K. Carlisle sold 25,645 shares of the business’s stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $39.04, for a total transaction of $1,001,180.80. Following the completion of the transaction, the executive vice president now directly owns 64,170 shares in the company, valued at approximately $2,505,196.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Paul A. Jacobson acquired 35,000 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The shares were bought at an average price of $38.79 per share, with a total value of $1,357,650.00. Following the completion of the purchase, the chief financial officer now owns 110,000 shares in the company, valued at approximately $4,266,900. The disclosure for this purchase can be found here. 0.40% of the stock is owned by corporate insiders.

General Motors Company Profile (Get Rating)

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

Further Reading

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

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