QS Investors LLC Sells 36,875 Shares of General Motors Company (GM)
QS Investors LLC cut its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 28.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,731 shares of the auto manufacturer’s stock after selling 36,875 shares during the quarter. QS Investors LLC’s holdings in General Motors were worth $3,169,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Franklin Parlapiano Turner & Welch LLC bought a new stake in General Motors in the first quarter worth $106,000. FNY Managed Accounts LLC bought a new stake in General Motors in the first quarter worth $107,000. State of Alaska Department of Revenue lifted its position in General Motors by 10.5% in the second quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after buying an additional 310 shares during the last quarter. Ffcm LLC lifted its position in General Motors by 2,008.1% in 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 during the last quarter. Finally, Ropes Wealth Advisors LLC lifted its position in General Motors by 240.2% in the second quarter. Ropes Wealth Advisors LLC now owns 4,600 shares of the auto manufacturer’s stock worth $161,000 after buying an additional 3,248 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. Royal Bank Of Canada raised their price target on General Motors from $38.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Thursday. Berenberg Bank set a $31.00 price target on General Motors and gave the stock a “sell” rating in a research report on Monday, August 14th. Citigroup Inc. restated a “buy” rating and issued a $53.00 price target on shares of General Motors in a research report on Monday. Morgan Stanley restated an “overweight” rating and issued a $43.00 price target on shares of General Motors in a research report on Wednesday. Finally, Deutsche Bank AG restated a “buy” rating and issued a $51.00 price target on shares of General Motors in a research report on Monday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $40.79.
Shares of General Motors Company (NYSE:GM) opened at 43.78 on Thursday. The stock’s 50 day moving average price is $37.98 and its 200 day moving average price is $35.40. The company has a market capitalization of $63.80 billion, a P/E ratio of 7.61 and a beta of 1.45. General Motors Company has a 52-week low of $30.21 and a 52-week high of $43.94.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The business had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. During the same quarter in the prior year, the company posted $1.86 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities research analysts forecast that General Motors Company will post $6.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Thursday, September 7th. General Motors’s dividend payout ratio (DPR) is presently 26.48%.
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In other news, VP Thomas S. Timko sold 17,255 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $35.79, for a total value of $617,556.45. Following the transaction, the vice president now owns 26,100 shares of the company’s stock, valued at approximately $934,119. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charles K. Stevens III sold 16,000 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $35.80, for a total value of $572,800.00. Following the completion of the transaction, the insider now directly owns 77,052 shares in the company, valued at approximately $2,758,461.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 842,901 shares of company stock worth $31,928,733. Corporate insiders own 0.04% of the company’s stock.
General Motors 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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