General Motors Company (GM) Stake Decreased by Franklin Resources Inc.
Franklin Resources Inc. decreased its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 6.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,159,620 shares of the auto manufacturer’s stock after selling 1,884,059 shares during the period. Franklin Resources Inc. owned about 1.93% of General Motors worth $983,616,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new stake in shares of General Motors during the first quarter worth approximately $103,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of General Motors during the first quarter worth approximately $106,000. FNY Managed Accounts LLC acquired a new stake in shares of General Motors during the first quarter worth approximately $107,000. Ffcm LLC increased its holdings in shares of General Motors by 2,008.1% during the second quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after buying an additional 3,213 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in shares of General Motors by 171.9% during 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. 72.21% of the stock is owned by institutional investors.
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Several analysts have recently weighed in on the stock. BidaskClub raised shares of General Motors from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Vetr lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $37.42 price objective for the company. in a report on Monday, July 17th. Zacks Investment Research lowered shares of General Motors from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $37.00 price objective on shares of General Motors in a report on Friday, July 14th. Finally, ValuEngine raised shares of General Motors from a “buy” rating to a “strong-buy” rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and three have given a strong buy rating to the company’s stock. General Motors has an average rating of “Buy” and a consensus target price of $39.26.
General Motors Company (NYSE GM) traded down 1.13% during midday trading on Thursday, reaching $36.87. 3,096,626 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $35.66 and its 200 day moving average price is $35.05. 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 $53.73 billion, a price-to-earnings ratio of 6.41 and a beta of 1.44.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, beating the Zacks’ 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 company had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. During the same period in the prior year, the firm posted $1.86 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Equities research analysts anticipate that General Motors Company will post $6.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio is currently 26.48%.
In related news, insider Karl-Thomas Neumann sold 234,274 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $34.77, for a total transaction of $8,145,706.98. Following the transaction, the insider now directly owns 234,274 shares of the company’s stock, valued at $8,145,706.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jane L. Mendillo bought 1,440 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average cost of $34.86 per share, for a total transaction of $50,198.40. Following the completion of 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. Over the last ninety days, insiders sold 330,673 shares of company stock worth $11,590,746. 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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