Twin Capital Management Inc. Decreases Stock Position in General Motors (NYSE:GM)

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Twin Capital Management Inc. cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 31.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 162,860 shares of the auto manufacturer’s stock after selling 74,790 shares during the period. Twin Capital Management Inc.’s holdings in General Motors were worth $6,275,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. AGF Investments LLC increased its position in shares of General Motors by 28.0% during the second quarter. AGF Investments LLC now owns 1,183 shares of the auto manufacturer’s stock worth $46,000 after purchasing an additional 259 shares in the last quarter. Econ Financial Services Corp increased its position in shares of General Motors by 3.3% during the first quarter. Econ Financial Services Corp now owns 8,164 shares of the auto manufacturer’s stock worth $303,000 after purchasing an additional 264 shares in the last quarter. Squar Milner Financial Services LLC increased its position in shares of General Motors by 4.5% during the first quarter. Squar Milner Financial Services LLC now owns 6,412 shares of the auto manufacturer’s stock worth $237,000 after purchasing an additional 275 shares in the last quarter. Cedar Brook Financial Partners LLC increased its position in shares of General Motors by 4.2% during the first quarter. Cedar Brook Financial Partners LLC now owns 6,827 shares of the auto manufacturer’s stock worth $253,000 after purchasing an additional 276 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its position in shares of General Motors by 11.1% during the first quarter. Zions Bancorporation N.A. now owns 2,906 shares of the auto manufacturer’s stock worth $108,000 after purchasing an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 75.92% of the company’s stock.

Several equities analysts recently issued reports on GM shares. Nomura set a $38.00 price target on General Motors and gave the company a “hold” rating in a research report on Wednesday, August 7th. Citigroup boosted their price target on General Motors from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. ValuEngine cut General Motors from a “hold” rating to a “sell” rating in a research report on Thursday. Royal Bank of Canada boosted their price target on General Motors to $52.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Finally, Evercore ISI set a $50.00 price target on General Motors and gave the company a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $47.62.

GM stock traded down $0.72 on Thursday, reaching $36.47. The company had a trading volume of 278,921 shares, compared to its average volume of 7,916,645. General Motors has a 1 year low of $30.56 and a 1 year high of $41.90. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 1.56. The firm’s fifty day moving average price is $39.29. The company has a market capitalization of $52.58 billion, a P/E ratio of 5.58, a P/E/G ratio of 0.64 and a beta of 1.39.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.21. General Motors had a return on equity of 21.08% and a net margin of 6.31%. The firm had revenue of $36.06 billion for the quarter, compared to analyst estimates of $36.03 billion. During the same quarter in the prior year, the company earned $1.81 EPS. General Motors’s revenue was down 1.9% on a year-over-year basis. As a group, equities analysts anticipate that General Motors will post 6.8 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Thursday, September 5th. General Motors’s payout ratio is currently 23.24%.

In other General Motors news, President Mark L. Reuss sold 275,944 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the transaction, the president now owns 479,413 shares of the company’s stock, valued at approximately $19,190,902.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.51% of the stock is currently owned by corporate insiders.

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

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