Gofen & Glossberg LLC IL lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,458 shares of the auto manufacturer’s stock after purchasing an additional 1,600 shares during the period. Gofen & Glossberg LLC IL’s holdings in General Motors were worth $511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. YorkBridge Wealth Partners LLC boosted its position in shares of General Motors by 43.5% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock worth $101,000 after acquiring an additional 860 shares during the last quarter. Fieldpoint Private Securities LLC bought a new position in shares of General Motors during the third quarter worth $119,000. Ropes Wealth Advisors LLC boosted its position in shares of General Motors by 240.2% during the second quarter. Ropes Wealth Advisors LLC now owns 4,600 shares of the auto manufacturer’s stock worth $161,000 after acquiring an additional 3,248 shares during the last quarter. Fayez Sarofim & Co. bought a new position in shares of General Motors during the third quarter worth $202,000. Finally, Capital Investment Advisory Services LLC bought a new position in shares of General Motors during the third quarter worth $203,000. 73.02% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Piper Jaffray Companies set a $44.00 target price on shares of General Motors and gave the stock a “buy” rating in a research report on Monday, October 16th. Citigroup restated a “buy” rating and set a $53.00 target price on shares of General Motors in a research report on Monday, October 2nd. Evercore ISI upped their target price on shares of General Motors from $40.00 to $41.38 in a research report on Friday, December 29th. Finally, Instinet restated a “buy” rating and set a $43.00 target price on shares of General Motors in a research report on Tuesday, October 3rd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $44.07.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.25. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The business had revenue of $30.48 billion during the quarter, compared to analyst estimates of $29.93 billion. During the same quarter last year, the business earned $1.72 earnings per share. General Motors’s quarterly revenue was down 16.6% compared to the same quarter last year. equities research analysts forecast that General Motors will post 6.5 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 21st. Shareholders of record on Friday, December 8th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, December 7th. This represents a $1.52 annualized dividend and a yield of 3.45%. General Motors’s dividend payout ratio (DPR) is currently 77.95%.
In other news, EVP Stefan Jacoby sold 37,961 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $42.87, for a total value of $1,627,388.07. Following the completion of the sale, the executive vice president now owns 98,340 shares in the company, valued at approximately $4,215,835.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Barry L. Engle II sold 50,443 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $43.08, for a total transaction of $2,173,084.44. Following the completion of the sale, the insider now owns 57,091 shares of the company’s stock, valued at approximately $2,459,480.28. The disclosure for this sale can be found here. Insiders have sold 552,298 shares of company stock valued at $24,408,137 in the last quarter. 0.04% of the stock is owned by company insiders.
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General Motors 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.
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