ING Groep NV cut its position in General Motors Co. (NYSE:GM) by 80.5% during the second quarter, Holdings Channel reports. The fund owned 289,907 shares of the auto manufacturer’s stock after selling 1,193,382 shares during the period. ING Groep NV’s holdings in General Motors were worth $8,204,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of GM. Artemis Investment Management LLP boosted its stake in shares of General Motors by 126.9% in the second quarter. Artemis Investment Management LLP now owns 6,464,090 shares of the auto manufacturer’s stock valued at $182,903,000 after buying an additional 3,615,099 shares in the last quarter. Prudential Financial Inc. boosted its stake 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 in the last quarter. Natixis boosted its stake in shares of General Motors by 576.0% in the first quarter. Natixis now owns 2,515,846 shares of the auto manufacturer’s stock valued at $79,073,000 after buying an additional 2,143,679 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of General Motors during the first quarter valued at $56,200,000. Finally, BB&T Securities LLC boosted its stake in shares of General Motors by 552.8% in the first quarter. BB&T Securities LLC now owns 1,741,235 shares of the auto manufacturer’s stock valued at $54,727,000 after buying an additional 1,474,508 shares in the last quarter. Hedge funds and other institutional investors own 70.40% of the company’s stock.
Shares of General Motors Co. (NYSE:GM) traded up 0.92% during mid-day trading on Friday, reaching $31.77. The company’s stock had a trading volume of 9,330,018 shares. The firm’s 50 day moving average is $31.66 and its 200 day moving average is $30.85. General Motors Co. has a one year low of $26.69 and a one year high of $36.88. The firm has a market cap of $49.62 billion, a PE ratio of 4.07 and a beta of 1.70.
General Motors (NYSE:GM) last issued its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.35. The business had revenue of $42.40 billion for the quarter, compared to the consensus estimate of $38.81 billion. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 earnings per share. On average, equities analysts anticipate that General Motors Co. will post $5.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Wednesday, September 7th. General Motors’s payout ratio is 19.46%.
Several brokerages recently weighed in on GM. Vetr cut General Motors from a “buy” rating to a “hold” rating and set a $33.66 target price for the company. in a report on Monday. Barclays PLC restated an “equal weight” rating and set a $66.00 target price on shares of General Motors in a report on Friday, September 23rd. Citigroup Inc. restated a “buy” rating and set a $50.00 target price on shares of General Motors in a report on Thursday, September 22nd. Nomura began coverage on General Motors in a report on Tuesday, September 20th. They set a “neutral” rating and a $33.00 target price for the company. Finally, Morgan Stanley upgraded General Motors from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $29.00 to $37.00 in a report on Monday, September 19th. One equities 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 company’s stock. General Motors has a consensus rating of “Hold” and an average target price of $37.03.
In other news, Director Jane L. Mendillo bought 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were purchased 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 in the company, valued at $49,616. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $31.94, for a total value of $199,625.00. Following the completion of the transaction, the vice president now directly owns 27,477 shares in the company, valued at $877,615.38. The disclosure for this sale can be found here. 0.04% of the stock is owned by corporate 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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