Oppenheimer & Co. Inc. Decreases Holdings in General Motors (GM)

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Oppenheimer & Co. Inc. cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 98,556 shares of the auto manufacturer’s stock after selling 5,151 shares during the period. Oppenheimer & Co. Inc.’s holdings in General Motors were worth $3,882,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GM. Reliance Trust Co. of Delaware increased its stake in shares of General Motors by 17.5% in the 2nd quarter. Reliance Trust Co. of Delaware now owns 9,679 shares of the auto manufacturer’s stock worth $382,000 after purchasing an additional 1,439 shares in the last quarter. BKD Wealth Advisors LLC increased its stake in shares of General Motors by 1.9% in the 1st quarter. BKD Wealth Advisors LLC now owns 78,623 shares of the auto manufacturer’s stock worth $2,857,000 after purchasing an additional 1,445 shares in the last quarter. Wayne Hummer Investments L.L.C. increased its stake in shares of General Motors by 4.3% in the 1st quarter. Wayne Hummer Investments L.L.C. now owns 36,652 shares of the auto manufacturer’s stock worth $1,332,000 after purchasing an additional 1,526 shares in the last quarter. Princeton Capital Management LLC boosted its holdings in General Motors by 25.2% in the 1st quarter. Princeton Capital Management LLC now owns 7,652 shares of the auto manufacturer’s stock worth $278,000 after buying an additional 1,540 shares during the period. Finally, Stellar Capital Management LLC boosted its holdings in General Motors by 3.1% in the 2nd quarter. Stellar Capital Management LLC now owns 52,472 shares of the auto manufacturer’s stock worth $2,067,000 after buying an additional 1,555 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.

GM opened at $37.12 on Thursday. General Motors has a 52 week low of $34.50 and a 52 week high of $46.76. The stock has a market cap of $53.18 billion, a price-to-earnings ratio of 5.61, a P/E/G ratio of 0.77 and a beta of 1.59. The company has a quick ratio of 0.74, a current ratio of 0.88 and a debt-to-equity ratio of 1.81.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Wednesday, July 25th. The auto manufacturer reported $1.81 EPS for the quarter, beating the 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 business had revenue of $36.80 billion during the quarter, compared to the consensus estimate 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 forecast that General Motors will post 5.95 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, September 6th. General Motors’s dividend payout ratio (DPR) is presently 22.96%.

In other General Motors news, EVP Alan S. Batey sold 215,685 shares of the stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $43.01, for a total transaction of $9,276,611.85. Following the completion of the transaction, the executive vice president now owns 84,594 shares of the company’s stock, valued at approximately $3,638,387.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate insiders.

Several research analysts recently weighed in on the stock. Morgan Stanley dropped their target price on shares of General Motors from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, August 17th. Citigroup dropped their target price on shares of General Motors to $60.00 and set a “buy” rating for the company in a report on Thursday, July 26th. Royal Bank of Canada upped their target price on shares of General Motors from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 10th. Zacks Investment Research raised shares of General Motors from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Thursday, June 28th. Finally, ValuEngine raised shares of General Motors from a “hold” rating to a “buy” rating in a report on Friday, June 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $47.02.

General Motors Company 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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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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