General Motors Company (GM) Position Cut by Andra AP fonden
Andra AP fonden lowered its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 34.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,300 shares of the auto manufacturer’s stock after selling 51,800 shares during the period. Andra AP fonden’s holdings in General Motors were worth $3,434,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GM. State of Alaska Department of Revenue purchased a new position in General Motors during the first quarter worth approximately $103,000. Waldron LP increased its position in General Motors by 13.6% in the first quarter. Waldron LP now owns 8,132 shares of the auto manufacturer’s stock worth $287,000 after buying an additional 975 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in General Motors by 259.9% in the first quarter. State of New Jersey Common Pension Fund D now owns 2,235,000 shares of the auto manufacturer’s stock worth $79,030,000 after buying an additional 1,614,000 shares in the last quarter. Russell Investments Group Ltd. increased its position in General Motors by 5.7% in the first quarter. Russell Investments Group Ltd. now owns 3,398,675 shares of the auto manufacturer’s stock worth $120,168,000 after buying an additional 181,888 shares in the last quarter. Finally, First Midwest Bank Trust Division increased its position in General Motors by 189.8% in the first quarter. First Midwest Bank Trust Division now owns 37,135 shares of the auto manufacturer’s stock worth $1,313,000 after buying an additional 24,322 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.
General Motors Company (NYSE GM) opened at 36.54 on Friday. The stock has a 50 day moving average price of $35.58 and a 200-day moving average price of $35.06. General Motors Company has a 1-year low of $30.13 and a 1-year high of $38.55. The company has a market capitalization of $53.25 billion, a price-to-earnings ratio of 6.35 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business had revenue of $36.98 billion during the quarter, compared to the consensus estimate of $37.67 billion. During the same period last year, the business posted $1.86 EPS. General Motors’s revenue was down 1.1% on a year-over-year basis. Equities analysts predict that General Motors Company will post $6.13 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.16%. General Motors’s dividend payout ratio is currently 26.48%.
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GM has been the topic of a number of research analyst reports. Buckingham Research reaffirmed a “neutral” rating on shares of General Motors in a report on Friday, June 2nd. Vetr raised General Motors to a “strong-buy” rating in a report on Friday, June 9th. Berenberg Bank reaffirmed a “sell” rating and set a $31.00 target price on shares of General Motors in a report on Tuesday, June 13th. Wolfe Research initiated coverage on General Motors in a report on Tuesday, June 13th. They set a “market perform” rating and a $33.00 target price on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $36.00 target price on shares of General Motors in a report on Tuesday, June 13th. Two investment 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. General Motors has a consensus rating of “Buy” and an average price target of $39.26.
In related news, Director Patricia F. Russo purchased 10,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were purchased at an average cost of $34.73 per share, with a total value of $347,300.00. Following the acquisition, the director now directly owns 12,300 shares in the company, valued at $427,179. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jane L. Mendillo purchased 1,440 shares of the stock in a transaction on Friday, August 18th. The stock was bought at an average cost of $34.86 per share, for a total transaction of $50,198.40. Following the completion of the acquisition, the director now owns 4,560 shares in the company, valued at $158,961.60. The disclosure for this purchase can be found here. Over the last three months, insiders sold 330,673 shares of company stock worth $11,590,746. Insiders own 0.04% of the company’s stock.
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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