Paul A. Jacobson Buys 35,000 Shares of General Motors (NYSE:GM) Stock

General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) CFO Paul A. Jacobson acquired 35,000 shares of the stock in a transaction that occurred on Thursday, April 28th. The stock was purchased at an average price of $38.79 per share, with a total value of $1,357,650.00. Following the transaction, the chief financial officer now owns 110,000 shares in the company, valued at $4,266,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of NYSE:GM opened at $38.45 on Tuesday. General Motors has a 52-week low of $37.25 and a 52-week high of $67.21. The company has a market capitalization of $55.87 billion, a P/E ratio of 6.38, a price-to-earnings-growth ratio of 0.55 and a beta of 1.18. The company has a 50-day simple moving average of $42.26 and a 200 day simple moving average of $51.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.93 and a current ratio of 1.11.

General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last issued its earnings results on Tuesday, April 26th. The auto manufacturer reported $2.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.52. General Motors had a net margin of 7.61% and a return on equity of 16.35%. During the same period in the prior year, the company posted $2.25 earnings per share. As a group, equities analysts forecast that General Motors will post 7.06 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of GM. Liberty Wealth Management LLC lifted its position in General Motors by 50.1% during the third quarter. Liberty Wealth Management LLC now owns 518 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 173 shares during the last quarter. NuWave Investment Management LLC acquired a new stake in General Motors during the fourth quarter worth approximately $28,000. FSB Premier Wealth Management Inc. bought a new position in shares of General Motors during the fourth quarter worth approximately $28,000. Sandy Cove Advisors LLC bought a new position in shares of General Motors during the fourth quarter worth approximately $30,000. Finally, Hanson & Doremus Investment Management increased its holdings in shares of General Motors by 793.7% during the fourth quarter. Hanson & Doremus Investment Management now owns 563 shares of the auto manufacturer’s stock worth $33,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 82.66% of the company’s stock.

GM has been the subject of a number of recent analyst reports. StockNews.com began coverage on shares of General Motors in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Wedbush lowered their target price on General Motors from $85.00 to $50.00 in a report on Wednesday, April 27th. Royal Bank of Canada lowered their target price on General Motors from $70.00 to $58.00 in a report on Wednesday, April 27th. Benchmark lowered their target price on General Motors from $80.00 to $75.00 and set a “buy” rating for the company in a report on Friday, March 11th. Finally, Nomura lowered their target price on General Motors from $66.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, February 9th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $65.62.

About General Motors (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.

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