Baker Ellis Asset Management LLC increased its stake in shares of General Motors Co. (NYSE:GM) by 2.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,853 shares of the auto manufacturer’s stock after buying an additional 200 shares during the period. Baker Ellis Asset Management LLC’s holdings in General Motors were worth $279,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. North Star Investment Management Corp. boosted its position in General Motors by 809.5% in the second quarter. North Star Investment Management Corp. now owns 4,602 shares of the auto manufacturer’s stock valued at $130,000 after buying an additional 4,096 shares during the period. Peapack Gladstone Financial Corp boosted 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 valued at $201,000 after buying an additional 225 shares during the period. Mariner Wealth Advisors LLC boosted 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 valued at $206,000 after buying an additional 20 shares during the period. V Wealth Management LLC boosted 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 valued at $225,000 after buying an additional 355 shares during the period. Finally, Trust Co bought a new position in General Motors during the first quarter valued at $271,000. Institutional investors own 70.40% of the company’s stock.
Shares of General Motors Co. (NYSE:GM) traded down 0.58% during midday trading on Friday, reaching $32.34. 8,909,389 shares of the company’s stock were exchanged. The company has a market cap of $50.51 billion, a P/E ratio of 4.14 and a beta of 1.65. General Motors Co. has a 12 month low of $26.69 and a 12 month high of $36.88. The firm has a 50 day moving average price of $31.73 and a 200 day moving average price of $30.87.
General Motors (NYSE:GM) last released its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.35. The company had revenue of $42.40 billion for the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 EPS. Equities research analysts forecast that General Motors Co. will post $5.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date was Wednesday, September 7th. General Motors’s payout ratio is 19.46%.
Several research firms have recently weighed in on GM. Vetr cut shares of General Motors from a “strong-buy” rating to a “buy” rating and set a $33.03 price target for the company. in a report on Monday, June 20th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $43.00 price target on shares of General Motors in a report on Tuesday, July 26th. Zacks Investment Research cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Thursday, June 23rd. Barclays PLC reissued an “equal weight” rating and issued a $36.00 price objective on shares of General Motors in a research report on Tuesday, July 19th. Finally, 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 objective on the stock. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the stock. General Motors currently has an average rating of “Hold” and a consensus price target of $36.67.
In other news, VP Thomas S. Timko sold 6,250 shares of General Motors 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 sale, the vice president now directly owns 27,477 shares in the company, valued at approximately $877,615.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jane L. Mendillo bought 1,600 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were acquired at an average price of $31.01 per share, for a total transaction of $49,616.00. Following the completion of the purchase, the director now directly owns 1,600 shares in the company, valued at $49,616. The disclosure for this purchase 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.
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