Savant Capital LLC Acquires New Position in General Motors Company (GM)
Savant Capital LLC acquired a new position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) during the second quarter, Holdings Channel reports. The institutional investor acquired 5,946 shares of the auto manufacturer’s stock, valued at approximately $208,000.
Other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of General Motors during the first quarter worth approximately $103,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of General Motors during the first quarter worth approximately $106,000. FNY Managed Accounts LLC purchased a new stake in shares of General Motors during the first quarter worth approximately $107,000. SRS Capital Advisors Inc. increased its stake in shares of General Motors by 171.9% in the first quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the auto manufacturer’s stock worth $182,000 after buying an additional 3,262 shares in the last quarter. Finally, North Star Investment Management Corp. increased its stake in shares of General Motors by 0.8% in the first quarter. North Star Investment Management Corp. now owns 5,215 shares of the auto manufacturer’s stock worth $184,000 after buying an additional 42 shares in the last quarter. 75.56% of the stock is currently owned by institutional investors.
Shares of General Motors Company (NYSE GM) opened at 35.54 on Wednesday. The stock has a 50 day moving average of $35.43 and a 200 day moving average of $35.08. General Motors Company has a 1-year low of $30.13 and a 1-year high of $38.55. The firm has a market cap of $51.79 billion, a PE ratio of 6.18 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $36.98 billion during the quarter, compared to analyst estimates of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 earnings per share. Equities research analysts anticipate that General Motors Company will post $6.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.28%. General Motors’s dividend payout ratio is currently 26.48%.
A number of brokerages have commented on GM. Berenberg Bank set a $31.00 price objective on shares of General Motors and gave the company a “sell” rating in a research report on Monday. Zacks Investment Research raised shares of General Motors from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Vetr raised shares of General Motors to a “strong-buy” rating in a research report on Friday, June 9th. Bank of America Corporation reissued a “buy” rating and issued a $40.00 price objective (down from $44.00) on shares of General Motors in a research report on Friday, June 16th. Finally, BidaskClub downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company’s stock. General Motors presently has an average rating of “Hold” and a consensus price target of $39.26.
In other news, Director Patricia F. Russo purchased 10,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average price of $34.73 per share, for a total transaction of $347,300.00. Following the completion of the transaction, the director now owns 12,300 shares of the company’s stock, valued at $427,179. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Karl-Thomas Neumann sold 46,472 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $32.84, for a total transaction of $1,526,140.48. The disclosure for this sale can be found here. Insiders have sold 369,001 shares of company stock valued at $12,827,204 in the last 90 days. Insiders own 0.04% of the company’s stock.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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