First Dallas Securities Inc. increased its position in shares of General Motors Co. (NYSE:GM) by 9.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,929 shares of the auto manufacturer’s stock after buying an additional 3,148 shares during the period. General Motors accounts for approximately 0.8% of First Dallas Securities Inc.’s investment portfolio, making the stock its 27th largest position. First Dallas Securities Inc.’s holdings in General Motors were worth $1,017,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of GM. Mariner Wealth Advisors LLC raised its position in General Motors by 0.3% in the first quarter. Mariner Wealth Advisors LLC now owns 6,550 shares of the auto manufacturer’s stock worth $206,000 after buying an additional 20 shares in the last quarter. Concorde Asset Management LLC raised its position in General Motors by 1.6% in the second quarter. Concorde Asset Management LLC now owns 10,082 shares of the auto manufacturer’s stock worth $286,000 after buying an additional 162 shares in the last quarter. Trust Co. of Oklahoma raised its position in General Motors by 1.4% in the second quarter. Trust Co. of Oklahoma now owns 14,600 shares of the auto manufacturer’s stock worth $413,000 after buying an additional 200 shares in the last quarter. Peapack Gladstone Financial Corp raised its position in General Motors by 3.6% in the first quarter. Peapack Gladstone Financial Corp now owns 6,402 shares of the auto manufacturer’s stock worth $201,000 after buying an additional 225 shares in the last quarter. Finally, V Wealth Management LLC raised its position in General Motors by 4.7% in the second quarter. V Wealth Management LLC now owns 7,941 shares of the auto manufacturer’s stock worth $225,000 after buying an additional 355 shares in the last quarter. Institutional investors and hedge funds own 70.40% of the company’s stock.
Shares of General Motors Co. (NYSE:GM) traded down 0.63% on Tuesday, reaching $31.60. 14,465,340 shares of the company traded hands. General Motors Co. has a 52-week low of $26.69 and a 52-week high of $36.88. The stock has a 50 day moving average of $31.61 and a 200 day moving average of $30.83. The stock has a market cap of $49.36 billion, a price-to-earnings ratio of 4.05 and a beta of 1.70.
General Motors (NYSE:GM) last issued its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.35. General Motors had a net margin of 7.90% and a return on equity of 23.96%. The firm earned $42.40 billion during the quarter, compared to the consensus estimate of $38.81 billion. During the same quarter in the prior year, the firm earned $1.29 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. On average, analysts expect that General Motors Co. will post $5.83 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.81%. The ex-dividend date was Wednesday, September 7th. General Motors’s payout ratio is presently 19.46%.
Several research firms have issued reports on GM. Vetr upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating and set a $33.75 price target on the stock in a research report on Thursday, June 9th. Citigroup Inc. restated a “buy” rating and issued a $50.00 price target on shares of General Motors in a research report on Thursday, June 9th. Royal Bank Of Canada lifted their price target on shares of General Motors from $32.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Friday, July 22nd. Seaport Global Securities began coverage on shares of General Motors in a research report on Tuesday, August 9th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Barclays PLC restated an “equal weight” rating and issued a $36.00 price target on shares of General Motors in a research report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. General Motors currently has a consensus rating of “Hold” and a consensus price target of $37.03.
In other news, VP Thomas S. Timko sold 6,250 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $31.94, for a total transaction of $199,625.00. Following the completion of the sale, the vice president now owns 27,477 shares of the company’s stock, valued at $877,615.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jane L. Mendillo acquired 1,600 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were bought at an average cost of $31.01 per share, with a total value of $49,616.00. Following the transaction, the director now directly owns 1,600 shares of the company’s stock, valued at $49,616. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.
General Motors Company Profile
General Motors Company (General Motors) designs, builds and sells cars, trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s four automotive segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA).
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