BlackRock Advisors LLC decreased its stake in shares of General Motors Co. (NYSE:GM) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 673,596 shares of the auto manufacturer’s stock after selling 10,496 shares during the period. BlackRock Advisors LLC’s holdings in General Motors were worth $19,062,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GM. BlackRock Group LTD increased its position in shares of General Motors by 2.5% in the first quarter. BlackRock Group LTD now owns 10,551,387 shares of the auto manufacturer’s stock valued at $331,632,000 after buying an additional 253,369 shares during the period. FDO Partners LLC bought a new position in shares of General Motors during the first quarter valued at about $431,000. Bancorpsouth Inc. increased its position in shares of General Motors by 8.4% in the first quarter. Bancorpsouth Inc. now owns 47,774 shares of the auto manufacturer’s stock valued at $1,502,000 after buying an additional 3,708 shares during the period. Rehmann Capital Advisory Group increased its position in shares of General Motors by 12.2% in the first quarter. Rehmann Capital Advisory Group now owns 9,049 shares of the auto manufacturer’s stock valued at $284,000 after buying an additional 984 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of General Motors by 128.9% in the first quarter. Prudential Financial Inc. now owns 6,044,453 shares of the auto manufacturer’s stock valued at $189,976,000 after buying an additional 3,403,440 shares during the period. Institutional investors and hedge funds own 70.40% of the company’s stock.
Shares of General Motors Co. (NYSE:GM) opened at 31.60 on Wednesday. General Motors Co. has a 52 week low of $26.69 and a 52 week high of $36.88. The stock has a market cap of $49.36 billion, a price-to-earnings ratio of 4.05 and a beta of 1.70. The stock’s 50 day moving average is $31.63 and its 200 day moving average is $30.83.
General Motors (NYSE:GM) last posted its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.35. The business earned $42.40 billion during the quarter, compared to analyst estimates of $38.81 billion. General Motors had a net margin of 7.90% and a return on equity of 23.96%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. On average, equities analysts forecast that General Motors Co. will post $5.83 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were given a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.81%. General Motors’s payout ratio is currently 19.46%.
Several brokerages recently weighed in on GM. Vetr cut shares of General Motors from a “buy” rating to a “hold” rating and set a $33.66 price objective on the stock. in a research note on Monday. Tigress Financial reissued a “buy” rating on shares of General Motors in a research note on Wednesday, June 22nd. Jefferies Group reissued a “hold” rating on shares of General Motors in a research note on Friday, September 2nd. Nomura began coverage on shares of General Motors in a research note on Tuesday, September 20th. They issued a “neutral” rating and a $33.00 price objective on the stock. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $41.00 price objective (down previously from $43.50) on shares of General Motors in a research note on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $37.03.
In related news, Director Jane L. Mendillo bought 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was purchased at an average price of $31.01 per share, for a total transaction of $49,616.00. Following the completion of the transaction, the director now owns 1,600 shares in the company, valued at $49,616. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total transaction of $199,625.00. Following the transaction, the vice president now owns 27,477 shares of the company’s stock, valued at approximately $877,615.38. The disclosure for this sale 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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