General Motors Company (GM) Stake Lifted by Atlantic Trust Group LLC
Atlantic Trust Group LLC grew its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,680 shares of the auto manufacturer’s stock after purchasing an additional 2,110 shares during the quarter. Atlantic Trust Group LLC’s holdings in General Motors were worth $2,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in GM. Suntrust Banks Inc. increased its position in General Motors by 29.5% in the 1st quarter. Suntrust Banks Inc. now owns 226,531 shares of the auto manufacturer’s stock valued at $8,008,000 after buying an additional 51,539 shares in the last quarter. Swiss National Bank increased its position in General Motors by 1.2% in the 2nd quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock valued at $172,060,000 after buying an additional 56,500 shares in the last quarter. Mosaic Family Wealth LLC increased its position in General Motors by 9.9% in the 1st quarter. Mosaic Family Wealth LLC now owns 10,025 shares of the auto manufacturer’s stock valued at $354,000 after buying an additional 900 shares in the last quarter. State of Tennessee Treasury Department increased its position in General Motors by 0.4% in the 2nd quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock valued at $28,839,000 after buying an additional 3,298 shares in the last quarter. Finally, Asset Management Advisors LLC increased its position in General Motors by 2.1% in the 1st quarter. Asset Management Advisors LLC now owns 133,194 shares of the auto manufacturer’s stock valued at $4,710,000 after buying an additional 2,760 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.
Shares of General Motors Company (NYSE GM) opened at 37.00 on Friday. The firm’s 50 day moving average price is $35.69 and its 200 day moving average price is $35.08. The stock has a market cap of $53.92 billion, a P/E ratio of 6.43 and a beta of 1.44. 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 issued its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The business had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.86 EPS. On average, analysts expect that General Motors Company will post $6.13 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio is presently 26.48%.
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A number of analysts recently commented on GM shares. Buckingham Research reaffirmed a “neutral” rating on shares of General Motors in a research report on Friday, June 2nd. Vetr raised General Motors to a “strong-buy” rating in a research report on Friday, June 9th. Berenberg Bank reaffirmed a “sell” rating and issued a $31.00 target price on shares of General Motors in a research report on Tuesday, June 13th. Wolfe Research started coverage on General Motors in a research report on Tuesday, June 13th. They issued a “market perform” rating and a $33.00 target price for the company. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $36.00 target price on shares of General Motors in a research report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $38.97.
In other news, insider John J. Quattrone sold 15,000 shares of General Motors stock in a transaction on Friday, June 30th. The shares were sold at an average price of $35.00, for a total transaction of $525,000.00. Following the transaction, the insider now owns 42,623 shares in the company, valued at approximately $1,491,805. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jane L. Mendillo purchased 1,440 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $34.86 per share, for a total transaction of $50,198.40. Following the purchase, the director now directly owns 4,560 shares in the company, valued at $158,961.60. The disclosure for this purchase can be found here. Insiders have sold a total of 330,673 shares of company stock worth $11,590,746 in the last quarter. Corporate 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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