First National Trust Co. raised its position in General Motors Co. (NYSE:GM) by 65.0% during the second quarter, Holdings Channel reports. The firm owned 25,125 shares of the auto manufacturer’s stock after buying an additional 9,895 shares during the period. First National Trust Co.’s holdings in General Motors were worth $711,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. BB&T Securities LLC increased its position 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 during the last quarter. Canada Pension Plan Investment Board increased its position in shares of General Motors by 126.1% in the first quarter. Canada Pension Plan Investment Board now owns 513,210 shares of the auto manufacturer’s stock valued at $16,130,000 after buying an additional 286,210 shares during the last quarter. Ruffer LLP purchased a new position in shares of General Motors during the first quarter valued at approximately $628,000. Aviva PLC increased its position in shares of General Motors by 16.8% in the first quarter. Aviva PLC now owns 1,196,456 shares of the auto manufacturer’s stock valued at $37,605,000 after buying an additional 172,151 shares during the last quarter. Finally, Wunderlich Capital Managemnt increased its position in shares of General Motors by 2.0% in the first quarter. Wunderlich Capital Managemnt now owns 43,810 shares of the auto manufacturer’s stock valued at $1,377,000 after buying an additional 873 shares during 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 1.59% during mid-day trading on Wednesday, reaching $32.68. 11,093,547 shares of the company were exchanged. General Motors Co. has a 12 month low of $26.69 and a 12 month high of $36.88. The stock has a 50 day moving average price of $31.71 and a 200-day moving average price of $30.86. The stock has a market capitalization of $51.04 billion, a P/E ratio of 4.19 and a beta of 1.65.
General Motors (NYSE:GM) last issued its quarterly earnings data on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.35. The business earned $42.40 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 EPS. Analysts predict that General Motors Co. will post $5.83 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were given a dividend of $0.38 per share. The ex-dividend date was Wednesday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.65%. General Motors’s dividend payout ratio is presently 19.46%.
Several brokerages recently commented 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 report on Thursday, June 9th. Citigroup Inc. reiterated a “buy” rating and set a $50.00 price target on shares of General Motors in a report on Thursday, June 9th. Royal Bank Of Canada upped their price target on shares of General Motors from $32.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, July 22nd. Seaport Global Securities initiated coverage on shares of General Motors in a report on Tuesday, August 9th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Barclays PLC reissued an “equal weight” rating and issued a $36.00 price objective on shares of General Motors in a research report on Thursday, August 11th. 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. The company currently has a consensus rating of “Hold” and a consensus price target of $37.02.
In related news, Director Jane L. Mendillo acquired 1,600 shares of General Motors stock in a transaction dated Tuesday, August 2nd. The stock was acquired at an average price of $31.01 per share, for a total transaction of $49,616.00. Following the transaction, the director now owns 1,600 shares of the company’s stock, valued at $49,616. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas S. Timko sold 6,250 shares of the business’s 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 sale, 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. Insiders own 0.04% of the company’s stock.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.
Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors Co. (NYSE:GM).
Receive News & Ratings for General Motors Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors Co. and related companies with MarketBeat.com's FREE daily email newsletter.