Brown Advisory Inc. increased its position in shares of General Motors Co. (NYSE:GM) by 6.3% during the second quarter, Holdings Channel reports. The fund owned 19,529 shares of the auto manufacturer’s stock after buying an additional 1,163 shares during the period. Brown Advisory Inc.’s holdings in General Motors were worth $552,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of GM. Prudential Financial Inc. increased its stake in shares of General Motors by 11.7% in the second quarter. Prudential Financial Inc. now owns 6,752,826 shares of the auto manufacturer’s stock worth $191,106,000 after buying an additional 708,373 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of General Motors by 33.9% in the second quarter. Private Advisor Group LLC now owns 31,517 shares of the auto manufacturer’s stock worth $895,000 after buying an additional 7,972 shares during the last quarter. Hancock Holding Co. increased its stake in shares of General Motors by 337.8% in the second quarter. Hancock Holding Co. now owns 95,243 shares of the auto manufacturer’s stock worth $2,696,000 after buying an additional 73,487 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of General Motors by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,708,089 shares of the auto manufacturer’s stock worth $359,632,000 after buying an additional 395,933 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of General Motors by 7.8% in the second quarter. Teacher Retirement System of Texas now owns 377,612 shares of the auto manufacturer’s stock worth $10,686,000 after buying an additional 27,265 shares during the last quarter. Hedge funds and other institutional investors own 70.40% of the company’s stock.
General Motors Co. (NYSE:GM) opened at 31.77 on Friday. The stock has a market capitalization of $49.62 billion, a price-to-earnings ratio of 4.07 and a beta of 1.70. The stock’s 50 day moving average is $31.66 and its 200-day moving average is $30.85. General Motors Co. has a 52-week low of $26.69 and a 52-week high of $36.88.
General Motors (NYSE:GM) last issued its quarterly earnings data 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. General Motors had a net margin of 7.90% and a return on equity of 23.96%. The firm had revenue of $42.40 billion for the quarter, compared to the consensus estimate of $38.81 billion. During the same quarter in the previous year, the firm earned $1.29 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that General Motors Co. will post $5.83 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend was Wednesday, September 7th. General Motors’s payout ratio is currently 19.46%.
Several analysts have recently commented on the company. Vetr downgraded General Motors from a “buy” rating to a “hold” rating and set a $33.66 target price for the company. in a research note on Monday, September 26th. Barclays PLC reaffirmed an “equal weight” rating and issued a $66.00 price target on shares of General Motors in a research report on Friday, September 23rd. Citigroup Inc. reaffirmed a “buy” rating and issued a $50.00 price target on shares of General Motors in a research report on Thursday, September 22nd. Nomura assumed coverage on shares of General Motors in a research report on Tuesday, September 20th. They issued a “neutral” rating and a $33.00 price target on the stock. Finally, Morgan Stanley raised shares of General Motors from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $29.00 to $37.00 in a research report on Monday, September 19th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.03.
In other news, Director Jane L. Mendillo acquired 1,600 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were purchased at an average price 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 filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas S. Timko sold 6,250 shares of General Motors stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 27,477 shares in the company, valued at approximately $877,615.38. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by insiders.
About General Motors
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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