Sterling Capital Management LLC Sells 165,170 Shares of General Motors Company (GM)
Sterling Capital Management LLC reduced its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 6.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,332,052 shares of the auto manufacturer’s stock after selling 165,170 shares during the quarter. Sterling Capital Management LLC owned 0.16% of General Motors worth $81,459,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in General Motors by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after purchasing an additional 3,560,717 shares during the period. BlackRock Inc. raised its stake in General Motors by 1.1% during the 2nd quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock valued at $2,750,849,000 after purchasing an additional 850,211 shares during the period. State Street Corp raised its stake in General Motors by 3.9% during the 1st quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after purchasing an additional 2,252,866 shares during the period. Berkshire Hathaway Inc. raised its stake in General Motors by 20.0% during the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after purchasing an additional 10,000,000 shares during the period. Finally, Capital World Investors raised its stake in General Motors by 5.0% during the 2nd quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock valued at $1,094,259,000 after purchasing an additional 1,500,500 shares during the period. 72.22% of the stock is currently owned by institutional investors.
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General Motors Company (NYSE:GM) traded up 0.453% during trading on Wednesday, reaching $45.415. 5,194,824 shares of the company’s stock traded hands. General Motors Company has a 12 month low of $30.21 and a 12 month high of $45.59. The firm has a 50 day moving average price of $39.09 and a 200-day moving average price of $35.70. The firm has a market cap of $66.18 billion, a PE ratio of 7.130 and a beta of 1.45.
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 (EPS) for the quarter, beating the 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 firm had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. During the same period in the previous year, the business earned $1.86 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. On average, 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. Shareholders of record on Friday, September 8th were paid a $0.38 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 3.36%. General Motors’s payout ratio is currently 26.48%.
Several brokerages have issued reports on GM. UBS AG reissued a “buy” rating and set a $50.00 target price (up from $39.00) on shares of General Motors in a research note on Wednesday. Citigroup Inc. reissued a “buy” rating and set a $53.00 target price on shares of General Motors in a research note on Monday. Royal Bank Of Canada boosted their target price on shares of General Motors from $38.00 to $44.00 and gave the company a “sector perform” rating in a research note on Thursday, October 5th. Morgan Stanley reissued an “overweight” rating and set a $43.00 target price on shares of General Motors in a research note on Wednesday, October 4th. Finally, Instinet reissued a “buy” rating and set a $43.00 target price on shares of General Motors in a research note on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. General Motors has an average rating of “Buy” and an average price target of $41.83.
In other news, insider Charles K. Stevens III sold 16,000 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $35.80, for a total transaction of $572,800.00. Following the transaction, the insider now directly owns 77,052 shares in the company, valued at approximately $2,758,461.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alan S. Batey sold 8,144 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $35.57, for a total transaction of $289,682.08. Following the transaction, the insider now owns 66,748 shares in the company, valued at $2,374,226.36. The disclosure for this sale can be found here. Insiders sold a total of 852,901 shares of company stock worth $32,378,733 over the last quarter. Company 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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