Evermay Wealth Management LLC Cuts Stake in General Motors Company (NYSE:GM)

Evermay Wealth Management LLC cut its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 9.1% during the second quarter, Holdings Channel reports. The firm owned 13,243 shares of the auto manufacturer’s stock after selling 1,333 shares during the period. Evermay Wealth Management LLC’s holdings in General Motors were worth $463,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GM. Macquarie Group Ltd. raised its stake in General Motors by 92.5% in the fourth quarter. Macquarie Group Ltd. now owns 76,600 shares of the auto manufacturer’s stock worth $2,669,000 after buying an additional 36,800 shares during the period. Raymond James Trust N.A. raised its stake in General Motors by 37.1% in the first quarter. Raymond James Trust N.A. now owns 19,331 shares of the auto manufacturer’s stock worth $684,000 after buying an additional 5,231 shares during the period. SOL Capital Management CO raised its stake in General Motors by 4.0% in the first quarter. SOL Capital Management CO now owns 9,050 shares of the auto manufacturer’s stock worth $320,000 after buying an additional 350 shares during the period. Legacy Private Trust Co. acquired a new stake in General Motors during the first quarter worth $1,199,000. Finally, Highland Capital Management LLC raised its stake in General Motors by 0.8% in the first quarter. Highland Capital Management LLC now owns 163,052 shares of the auto manufacturer’s stock worth $5,766,000 after buying an additional 1,317 shares during the period. 76.02% of the stock is owned by institutional investors.

General Motors Company (GM) opened at 35.28 on Thursday. The company has a 50-day moving average of $35.32 and a 200 day moving average of $35.16. General Motors Company has a one year low of $30.13 and a one year high of $38.55. The firm has a market cap of $51.41 billion, a P/E ratio of 6.13 and a beta of 1.45. General Motors also was the recipient of unusually large options trading on Tuesday. Traders acquired 16,324 put options on the stock. This represents an increase of approximately 237% compared to the typical volume of 4,840 put options.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The firm had revenue of $36.98 billion during the quarter, compared to analysts’ expectations of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 earnings per share. Equities research analysts expect that General Motors Company will post $6.14 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.31%. The ex-dividend date is Thursday, September 7th. General Motors’s payout ratio is 26.48%.

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GM has been the subject of a number of research reports. UBS AG reaffirmed a “buy” rating and issued a $40.00 price objective (up from $38.00) on shares of General Motors in a research note on Friday, April 14th. Nomura reaffirmed a “buy” rating and issued a $47.00 price objective on shares of General Motors in a research note on Tuesday, May 2nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of General Motors in a research note on Wednesday, May 3rd. Buckingham Research reaffirmed a “neutral” rating on shares of General Motors in a research note on Friday, June 2nd. Finally, Vetr raised shares of General Motors to a “strong-buy” rating in a research note on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $39.26.

In other news, Director Jane L. Mendillo purchased 1,520 shares of the business’s stock in a transaction on Friday, May 26th. The shares were bought at an average price of $32.92 per share, with a total value of $50,038.40. Following the completion of the transaction, the director now directly owns 3,120 shares in the company, valued at approximately $102,710.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karl-Thomas Neumann sold 234,274 shares of General Motors stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $34.77, for a total value of $8,145,706.98. Following the transaction, the insider now directly owns 234,274 shares in the company, valued at approximately $8,145,706.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 369,001 shares of company stock valued at $12,827,204. 0.04% of the stock is owned by company insiders.

General Motors Company Profile

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

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 Company (NYSE:GM) (TSE:GMM.U).

Institutional Ownership by Quarter for General Motors (NYSE:GM)

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