Sigma Planning Corp lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 44.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,920 shares of the auto manufacturer’s stock after selling 10,969 shares during the period. Sigma Planning Corp’s holdings in General Motors were worth $536,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. raised its position in General Motors by 6.7% in the 1st quarter. BlackRock Inc. now owns 83,427,385 shares of the auto manufacturer’s stock worth $3,095,158,000 after purchasing an additional 5,215,771 shares during the last quarter. Greenhaven Associates Inc. acquired a new stake in General Motors during the 1st quarter worth $754,274,000. Geode Capital Management LLC grew its holdings in General Motors by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 16,309,521 shares of the auto manufacturer’s stock worth $544,715,000 after acquiring an additional 1,217,986 shares during the period. Northern Trust Corp grew its holdings in General Motors by 0.6% during the 1st quarter. Northern Trust Corp now owns 14,222,304 shares of the auto manufacturer’s stock worth $527,647,000 after acquiring an additional 88,947 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in General Motors by 2.6% during the 1st quarter. Janus Henderson Group PLC now owns 9,790,204 shares of the auto manufacturer’s stock worth $363,227,000 after acquiring an additional 251,311 shares during the period. Hedge funds and other institutional investors own 74.75% of the company’s stock.
In other news, President Mark L. Reuss sold 275,944 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $40.03, for a total value of $11,046,038.32. Following the completion of the transaction, the president now owns 479,413 shares of the company’s stock, valued at approximately $19,190,902.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is owned by insiders.
A number of analysts have commented on the stock. Citigroup lifted their target price on shares of General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Evercore ISI set a $50.00 target price on shares of General Motors and gave the stock a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada lifted their target price on shares of General Motors to $52.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. ValuEngine lowered shares of General Motors from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, Credit Suisse Group assumed coverage on shares of General Motors in a report on Wednesday, June 26th. They set an “outperform” rating and a $48.00 target price for the company. One investment 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’s stock. General Motors has an average rating of “Buy” and a consensus price target of $47.62.
Shares of GM stock opened at $36.98 on Tuesday. General Motors has a 12-month low of $30.56 and a 12-month high of $41.90. The firm has a market capitalization of $53.04 billion, a price-to-earnings ratio of 5.65, a price-to-earnings-growth ratio of 0.61 and a beta of 1.39. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 1.56. The firm has a fifty day moving average of $39.13 and a 200-day moving average of $38.21.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.21. General Motors had a net margin of 6.31% and a return on equity of 21.08%. The company had revenue of $36.06 billion during the quarter, compared to analyst estimates of $36.03 billion. During the same quarter in the previous year, the business earned $1.81 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. Research analysts expect that General Motors will post 6.8 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Thursday, September 5th. General Motors’s dividend payout ratio (DPR) is 23.24%.
General Motors 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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