First Foundation Advisors reduced its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 21.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,291 shares of the auto manufacturer’s stock after selling 2,266 shares during the quarter. First Foundation Advisors’ holdings in General Motors were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of GM. Oregon Public Employees Retirement Fund increased its position in General Motors by 2,701.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,064,309 shares of the auto manufacturer’s stock worth $1,018,000 after buying an additional 32,848,376 shares during the last quarter. Capital Research Global Investors purchased a new stake in General Motors in the third quarter worth $480,782,000. Capital World Investors increased its position in General Motors by 15.4% in the third quarter. Capital World Investors now owns 83,910,382 shares of the auto manufacturer’s stock worth $2,825,263,000 after buying an additional 11,218,495 shares during the last quarter. Franklin Resources Inc. increased its position in General Motors by 38.9% in the third quarter. Franklin Resources Inc. now owns 27,084,102 shares of the auto manufacturer’s stock worth $911,922,000 after buying an additional 7,578,850 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new stake in General Motors in the fourth quarter worth $144,112,000. Institutional investors and hedge funds own 76.83% of the company’s stock.
In related news, insider Alan S. Batey sold 70,266 shares of the business’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $38.39, for a total transaction of $2,697,511.74. Following the completion of the transaction, the insider now directly owns 205,906 shares in the company, valued at $7,904,731.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Christopher Hatto sold 8,499 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $40.00, for a total value of $339,960.00. Following the transaction, the vice president now owns 10,040 shares of the company’s stock, valued at $401,600. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Wednesday, February 6th. The auto manufacturer reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.22. The company had revenue of $38.40 billion during the quarter, compared to analysts’ expectations of $36.31 billion. General Motors had a return on equity of 23.99% and a net margin of 5.45%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 earnings per share. As a group, equities research analysts predict that General Motors will post 6.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, March 7th. General Motors’s payout ratio is 23.24%.
A number of analysts have issued reports on GM shares. JPMorgan Chase & Co. raised their target price on General Motors from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 27th. Deutsche Bank initiated coverage on General Motors in a research report on Thursday, December 13th. They issued a “buy” rating for the company. Barclays set a $48.00 price target on General Motors and gave the company a “buy” rating in a research report on Friday, January 4th. BMO Capital Markets upgraded General Motors from a “market perform” rating to an “outperform” rating in a research report on Monday, January 7th. Finally, Zacks Investment Research cut General Motors from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. General Motors currently has an average rating of “Buy” and a consensus target price of $46.97.
About General Motors
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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