General Motors Company (GM) Position Decreased by Gamco Investors INC. ET AL
Gamco Investors INC. ET AL lowered its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,100 shares of the auto manufacturer’s stock after selling 1,500 shares during the period. Gamco Investors INC. ET AL’s holdings in General Motors were worth $4,509,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in GM. State of Alaska Department of Revenue acquired a new position in General Motors during the first quarter worth approximately $103,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in General Motors during the first quarter worth approximately $106,000. FNY Managed Accounts LLC acquired a new position in General Motors during the first quarter worth approximately $107,000. SRS Capital Advisors Inc. boosted its position in 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 during the period. Finally, North Star Investment Management Corp. boosted its position in 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 during the period. Hedge funds and other institutional investors own 75.56% of the company’s stock.
Shares of General Motors Company (NYSE GM) opened at 35.49 on Thursday. The stock has a 50 day moving average price of $35.48 and a 200 day moving average price of $35.05. The firm has a market cap of $51.72 billion, a PE ratio of 6.17 and a beta of 1.45. General Motors Company has a 52 week low of $30.13 and a 52 week high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The business had revenue of $36.98 billion during the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 earnings per share. Equities analysts expect that General Motors Company will post $6.13 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s payout ratio is currently 26.48%.
A number of equities analysts have recently commented on GM shares. Royal Bank Of Canada reissued a “hold” rating and set a $37.00 price target on shares of General Motors in a report on Friday, July 14th. Zacks Investment Research raised General Motors from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Wednesday, June 21st. Jefferies Group LLC reissued a “buy” rating and set a $36.00 price target on shares of General Motors in a report on Tuesday, June 13th. Piper Jaffray Companies reissued a “buy” rating and set a $44.00 price target on shares of General Motors in a report on Wednesday, July 12th. Finally, ValuEngine raised General Motors from a “buy” rating to a “strong-buy” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. General Motors currently has an average rating of “Buy” and an average price target of $39.26.
In other news, Director Jane L. Mendillo acquired 1,520 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was acquired at an average price of $32.92 per share, with a total value of $50,038.40. Following the completion of the purchase, the director now directly owns 3,120 shares in the company, valued at $102,710.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jane L. Mendillo acquired 1,440 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was purchased at an average cost of $34.86 per share, with a total value of $50,198.40. Following the purchase, the director now owns 4,560 shares of the company’s stock, valued at $158,961.60. The disclosure for this purchase can be found here. In the last three months, insiders acquired 12,960 shares of company stock valued at $447,537 and sold 330,673 shares valued at $11,590,746. 0.04% of the stock is owned by company insiders.
General Motors Company Profile
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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