North Point Portfolio Managers Corp OH acquired a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,250 shares of the auto manufacturer’s stock, valued at approximately $202,000.
Several other institutional investors also recently made changes to their positions in GM. Geode Capital Management LLC raised its holdings in shares of General Motors by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 16,309,521 shares of the auto manufacturer’s stock valued at $544,715,000 after buying an additional 1,217,986 shares during the last quarter. Hollencrest Capital Management increased its position in General Motors by 2.0% in the first quarter. Hollencrest Capital Management now owns 25,295 shares of the auto manufacturer’s stock worth $939,000 after purchasing an additional 496 shares during the period. Virtu Financial LLC acquired a new stake in General Motors in the first quarter worth about $401,000. Raymond James Trust N.A. increased its position in General Motors by 44.4% in the first quarter. Raymond James Trust N.A. now owns 17,989 shares of the auto manufacturer’s stock worth $668,000 after purchasing an additional 5,532 shares during the period. Finally, Massey Quick Simon & CO. LLC acquired a new stake in General Motors in the first quarter worth about $35,000. Institutional investors own 75.92% of the company’s stock.
In other news, President Mark L. Reuss sold 275,944 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $40.03, for a total value of $11,046,038.32. Following the completion of the sale, the president now owns 479,413 shares of the company’s stock, valued at $19,190,902.39. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.51% of the company’s stock.
A number of analysts recently commented on GM shares. Citigroup lifted their price objective on General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Credit Suisse Group started coverage on General Motors in a research report on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 price objective for the company. Royal Bank of Canada lifted their price objective on General Motors to $52.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Nomura set a $38.00 target price on General Motors and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, ValuEngine lowered General Motors from a “hold” rating to a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. General Motors has an average rating of “Buy” and a consensus price target of $47.62.
Shares of NYSE:GM traded up $0.49 during trading on Friday, hitting $36.96. 450,544 shares of the company’s stock traded hands, compared to its average volume of 7,804,926. General Motors has a 52 week low of $30.56 and a 52 week high of $41.90. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 1.56. The company has a market cap of $52.14 billion, a price-to-earnings ratio of 5.65, a price-to-earnings-growth ratio of 0.64 and a beta of 1.39. The company has a 50-day moving average price of $39.25 and a 200-day moving average price of $38.23.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.21. The business had revenue of $36.06 billion for the quarter, compared to analyst estimates of $36.03 billion. General Motors had a return on equity of 21.08% and a net margin of 6.31%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.81 EPS. On average, analysts predict that General Motors will post 6.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $0.38 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.52 annualized dividend and a dividend yield of 4.11%. General Motors’s payout ratio is 23.24%.
General Motors Company Profile
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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