General Motors Company (GM) Stake Maintained by Shelton Capital Management
Shelton Capital Management maintained its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,151 shares of the auto manufacturer’s stock at the end of the second quarter. Shelton Capital Management’s holdings in General Motors were worth $355,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of General Motors by 4.0% during the second quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after buying an additional 3,560,717 shares during the period. BlackRock Inc. grew its holdings in General Motors by 1.1% in the second quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock worth $2,750,849,000 after purchasing an additional 850,211 shares during the period. State Street Corp grew its holdings in General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock worth $2,136,563,000 after purchasing an additional 2,252,866 shares during the period. Capital World Investors grew its holdings in General Motors by 5.0% in the second quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock worth $1,094,259,000 after purchasing an additional 1,500,500 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in General Motors by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,568,438 shares of the auto manufacturer’s stock worth $508,880,000 after purchasing an additional 59,774 shares during the period. Institutional investors own 72.22% of the company’s stock.
In related news, insider Alicia S. Boler-Davis sold 10,000 shares of General Motors stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig B. Glidden sold 192,954 shares of General Motors stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $41.64, for a total transaction of $8,034,604.56. Following the sale, the executive vice president now owns 214,171 shares of the company’s stock, valued at $8,918,080.44. The disclosure for this sale can be found here. Insiders sold a total of 852,901 shares of company stock valued at $32,378,733 over the last quarter. 0.04% of the stock is owned by company insiders.
A number of equities research analysts have weighed in on the stock. UBS AG restated a “buy” rating and issued a $50.00 price objective (up previously from $39.00) on shares of General Motors in a report on Wednesday. Buckingham Research restated a “hold” rating on shares of General Motors in a report on Thursday, August 24th. BidaskClub cut shares of General Motors from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research cut shares of General Motors from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Morgan Stanley restated an “overweight” rating and issued a $43.00 price objective (up previously from $40.00) on shares of General Motors in a report on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have given 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 price target of $42.50.
General Motors Company (GM) opened at 44.89 on Friday. The stock has a 50 day moving average of $39.65 and a 200 day moving average of $35.83. The company has a market cap of $65.41 billion, a P/E ratio of 7.80 and a beta of 1.45. General Motors Company has a 52 week low of $30.21 and a 52 week high of $45.59.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $36.98 billion during 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%. General Motors’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the business earned $1.86 EPS. On average, analysts expect that General Motors Company will post $6.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.39%. 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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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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