LS Investment Advisors LLC increased its stake in shares of General Motors Co. (NYSE:GM) by 6.7% during the second quarter, Holdings Channel reports. The institutional investor owned 50,676 shares of the auto manufacturer’s stock after buying an additional 3,192 shares during the period. LS Investment Advisors LLC’s holdings in General Motors were worth $1,434,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Dowling & Yahnke LLC increased its stake in shares of General Motors by 34.5% in the second quarter. Dowling & Yahnke LLC now owns 13,137 shares of the auto manufacturer’s stock valued at $372,000 after buying an additional 3,370 shares in the last quarter. Concorde Asset Management LLC increased its stake in shares of General Motors by 1.6% in the second quarter. Concorde Asset Management LLC now owns 10,082 shares of the auto manufacturer’s stock valued at $286,000 after buying an additional 162 shares in the last quarter. McQueen Ball & Associates Inc. increased its stake in shares of General Motors by 3.9% in the second quarter. McQueen Ball & Associates Inc. now owns 41,135 shares of the auto manufacturer’s stock valued at $1,164,000 after buying an additional 1,543 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of General Motors during the second quarter valued at about $1,220,000. Finally, Acadian Asset Management LLC increased its stake in shares of General Motors by 6.5% in the second quarter. Acadian Asset Management LLC now owns 28,095 shares of the auto manufacturer’s stock valued at $795,000 after buying an additional 1,722 shares in the last quarter. 70.40% of the stock is owned by institutional investors and hedge funds.
Shares of General Motors Co. (NYSE:GM) traded down 0.59% during mid-day trading on Monday, hitting $32.15. The company’s stock had a trading volume of 6,094,808 shares. General Motors Co. has a 1-year low of $26.69 and a 1-year high of $36.88. The company has a 50-day moving average of $31.75 and a 200 day moving average of $30.86. The company has a market cap of $50.22 billion, a price-to-earnings ratio of 4.12 and a beta of 1.65.
General Motors (NYSE:GM) last issued its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.35. The company had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.81 billion. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 earnings per share. On average, analysts expect 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. Stockholders of record on Friday, September 9th were issued a $0.38 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.73%. General Motors’s dividend payout ratio (DPR) is 19.46%.
Several research analysts have weighed in on the company. Goldman Sachs Group Inc. lowered General Motors to a “neutral” rating and dropped their target price for the stock from $37.00 to $29.00 in a research report on Thursday. Vetr lowered General Motors from a “buy” rating to a “hold” rating and set a $33.44 target price on the stock. in a research report on Tuesday, October 4th. Barclays PLC reaffirmed an “equal weight” rating and issued a $66.00 target price on shares of General Motors in a research report on Friday, September 23rd. Citigroup Inc. reaffirmed a “buy” rating and issued a $50.00 target price on shares of General Motors in a research report on Thursday, September 22nd. Finally, Nomura assumed coverage on General Motors in a research report on Tuesday, September 20th. They issued a “neutral” rating and a $33.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $36.67.
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 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 acquisition, the director now owns 1,600 shares of the company’s stock, valued at approximately $49,616. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total value of $199,625.00. Following the sale, the vice president now 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 owned by insiders.
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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