Greenwood Gearhart Inc. boosted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,192 shares of the auto manufacturer’s stock after purchasing an additional 4,345 shares during the period. Greenwood Gearhart Inc.’s holdings in General Motors were worth $4,736,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ruffer LLP acquired a new stake in General Motors during the 2nd quarter worth about $120,141,000. Franklin Resources Inc. grew its holdings in General Motors by 13.7% during the 1st quarter. Franklin Resources Inc. now owns 24,874,605 shares of the auto manufacturer’s stock worth $903,943,000 after acquiring an additional 3,005,964 shares during the period. Bank of New York Mellon Corp grew its holdings in General Motors by 20.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,355,956 shares of the auto manufacturer’s stock worth $565,624,000 after acquiring an additional 2,394,922 shares during the period. OppenheimerFunds Inc. grew its holdings in General Motors by 232.3% during the 1st quarter. OppenheimerFunds Inc. now owns 2,707,589 shares of the auto manufacturer’s stock worth $98,394,000 after acquiring an additional 1,892,666 shares during the period. Finally, Levin Capital Strategies L.P. grew its holdings in General Motors by 48.6% during the 1st quarter. Levin Capital Strategies L.P. now owns 5,112,972 shares of the auto manufacturer’s stock worth $185,805,000 after acquiring an additional 1,672,528 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.
In related news, EVP Alan S. Batey sold 215,685 shares of the firm’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $43.01, for a total value of $9,276,611.85. Following the transaction, the executive vice president now owns 84,594 shares of the company’s stock, valued at approximately $3,638,387.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by company insiders.
A number of analysts have weighed in on the company. Morgan Stanley decreased their price target on General Motors from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Friday. JPMorgan Chase & Co. decreased their price target on General Motors from $58.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Jefferies Financial Group reiterated a “hold” rating and set a $39.00 price target on shares of General Motors in a report on Friday, July 27th. Buckingham Research decreased their price target on General Motors from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, July 26th. Finally, Royal Bank of Canada decreased their price target on General Motors from $53.00 to $49.00 and set an “outperform” rating for the company in a report on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $47.02.
GM stock opened at $36.77 on Tuesday. The stock has a market cap of $51.33 billion, a PE ratio of 5.86, a P/E/G ratio of 0.74 and a beta of 1.59. The company has a current ratio of 0.88, a quick ratio of 0.74 and a debt-to-equity ratio of 1.81. General Motors has a 1 year low of $34.50 and a 1 year high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Wednesday, July 25th. The auto manufacturer reported $1.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.03. General Motors had a negative net margin of 3.26% and a positive return on equity of 23.39%. The company had revenue of $36.80 billion for the quarter, compared to analysts’ expectations of $36.62 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The business’s revenue was down .5% on a year-over-year basis. sell-side analysts expect that General Motors will post 6 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Friday, September 7th will be given a $0.38 dividend. The ex-dividend date is Thursday, September 6th. This represents a $1.52 annualized dividend and a yield of 4.13%. General Motors’s payout ratio is 22.96%.
General Motors Profile
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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