Williams Jones & Associates LLC Decreases Position in General Motors (NYSE:GM)
Williams Jones & Associates LLC lowered its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 32.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 52,645 shares of the auto manufacturer’s stock after selling 25,322 shares during the period. Williams Jones & Associates LLC’s holdings in General Motors were worth $1,953,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Bank of Edwardsville bought a new position in General Motors during the first quarter valued at about $468,000. South Texas Money Management Ltd. boosted its position in shares of General Motors by 14.2% in the 1st quarter. South Texas Money Management Ltd. now owns 594,298 shares of the auto manufacturer’s stock valued at $22,048,000 after purchasing an additional 74,056 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of General Motors by 35.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 297,294 shares of the auto manufacturer’s stock valued at $11,029,000 after purchasing an additional 77,739 shares during the period. Game Creek Capital LP boosted its position in shares of General Motors by 11.7% in the 4th quarter. Game Creek Capital LP now owns 239,800 shares of the auto manufacturer’s stock valued at $8,021,000 after purchasing an additional 25,050 shares during the period. Finally, Gotham Asset Management LLC acquired a new position in shares of General Motors in the 4th quarter valued at $21,021,000. 76.98% of the stock is owned by institutional investors and hedge funds.
In other news, Director Wesley G. Bush purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of $38.58 per share, with a total value of $385,800.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Dhivya Suryadevara sold 34,756 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.40, for a total value of $1,299,874.40. Following the sale, the chief financial officer now directly owns 10,741 shares of the company’s stock, valued at $401,713.40. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 30th. The auto manufacturer reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.32. The firm had revenue of $34.88 billion during the quarter, compared to the consensus estimate of $35.56 billion. General Motors had a return on equity of 22.67% and a net margin of 6.26%. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 EPS. On average, equities analysts forecast that General Motors will post 6.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.26%. The ex-dividend date is Thursday, June 6th. General Motors’s dividend payout ratio is currently 23.24%.
A number of equities analysts recently weighed in on GM shares. Nomura set a $42.00 price target on General Motors and gave the company a “hold” rating in a research report on Thursday, May 2nd. Seaport Global Securities started coverage on General Motors in a research report on Wednesday, February 13th. They issued a “buy” rating for the company. Goldman Sachs Group reiterated a “neutral” rating and issued a $36.00 price target on shares of General Motors in a research report on Tuesday, March 26th. ValuEngine lowered General Motors from a “hold” rating to a “sell” rating in a research report on Saturday, June 1st. Finally, Zacks Investment Research lowered General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $47.43.
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General Motors Company Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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