Shell Asset Management Co. boosted its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 376,746 shares of the auto manufacturer’s stock after buying an additional 1,183 shares during the period. Shell Asset Management Co.’s holdings in General Motors were worth $13,160,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. Clearbridge Investments LLC raised its stake in shares of General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock valued at $140,394,000 after buying an additional 3,955,426 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock valued at $214,576,000 after buying an additional 3,420,200 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of General Motors by 3.2% in the first quarter. Vanguard Group Inc. now owns 89,853,324 shares of the auto manufacturer’s stock valued at $3,177,214,000 after buying an additional 2,744,821 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of General Motors by 87.0% in the first quarter. Alliancebernstein L.P. now owns 5,174,420 shares of the auto manufacturer’s stock valued at $182,967,000 after buying an additional 2,407,818 shares during the last quarter. Finally, State Street Corp raised its stake in shares of General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after buying an additional 2,252,866 shares during the last quarter. Hedge funds and other institutional investors own 76.02% of the company’s stock.
Shares of General Motors Company (GM) traded up 0.14% during midday trading on Friday, reaching $34.93. The company had a trading volume of 6,821,396 shares. The stock has a 50-day moving average of $35.37 and a 200 day moving average of $35.14. General Motors Company has a 52 week low of $30.13 and a 52 week high of $38.55. The firm has a market capitalization of $50.90 billion, a price-to-earnings ratio of 6.07 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $1.86 earnings per share. On average, analysts anticipate that General Motors Company will post $6.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.35%. General Motors’s dividend payout ratio (DPR) is presently 26.48%.
A number of analysts recently issued reports on GM shares. Nomura reiterated a “buy” rating and set a $47.00 price objective on shares of General Motors in a research note on Tuesday, May 2nd. BidaskClub upgraded General Motors from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. BMO Capital Markets reiterated a “market perform” rating on shares of General Motors in a research note on Wednesday, May 3rd. CLSA started coverage on General Motors in a research note on Wednesday, June 21st. They set a “hold” rating and a $37.00 price objective on the stock. Finally, Morgan Stanley started coverage on General Motors in a research note on Wednesday, June 28th. They set an “overweight” rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. General Motors has a consensus rating of “Hold” and a consensus target price of $39.26.
In other General Motors news, insider Karl-Thomas Neumann sold 46,472 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $32.84, for a total transaction of $1,526,140.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles K. Stevens III sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $35.80, for a total value of $572,800.00. Following the transaction, the insider now owns 77,052 shares of the company’s stock, valued at approximately $2,758,461.60. The disclosure for this sale can be found here. Insiders have sold 369,001 shares of company stock valued at $12,827,204 in the last 90 days. Company 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’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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