Conning Inc. increased its position in shares of General Motors Co. (NYSE:GM) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,220 shares of the auto manufacturer’s stock after buying an additional 540 shares during the period. Conning Inc.’s holdings in General Motors were worth $968,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. North Star Investment Management Corp. raised its stake in shares of General Motors by 809.5% in the second quarter. North Star Investment Management Corp. now owns 4,602 shares of the auto manufacturer’s stock worth $130,000 after buying an additional 4,096 shares during the period. Peapack Gladstone Financial Corp raised its stake in shares of General Motors by 3.6% in the first quarter. Peapack Gladstone Financial Corp now owns 6,402 shares of the auto manufacturer’s stock worth $201,000 after buying an additional 225 shares during the period. Mariner Wealth Advisors LLC raised its stake in shares of General Motors by 0.3% in the first quarter. Mariner Wealth Advisors LLC now owns 6,550 shares of the auto manufacturer’s stock worth $206,000 after buying an additional 20 shares during the period. V Wealth Management LLC raised its stake in shares of General Motors by 4.7% in the second quarter. V Wealth Management LLC now owns 7,941 shares of the auto manufacturer’s stock worth $225,000 after buying an additional 355 shares during the period. Finally, Trust Co acquired a new stake in shares of General Motors during the first quarter worth $271,000. Institutional investors and hedge funds own 70.40% of the company’s stock.
Shares of General Motors Co. (NYSE:GM) traded up 0.95% during trading on Wednesday, hitting $31.90. The stock had a trading volume of 10,713,565 shares. General Motors Co. has a 52 week low of $26.69 and a 52 week high of $36.88. The stock’s 50 day moving average is $31.65 and its 200 day moving average is $30.84. The stock has a market capitalization of $49.83 billion, a price-to-earnings ratio of 4.09 and a beta of 1.70.
General Motors (NYSE:GM) last announced its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, topping the consensus estimate of $1.51 by $0.35. The business had revenue of $42.40 billion for the quarter, compared to the consensus estimate of $38.81 billion. General Motors had a return on equity of 23.96% and a net margin of 7.90%. General Motors’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 EPS. On average, equities research analysts expect that General Motors Co. will post $5.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Wednesday, September 7th. General Motors’s payout ratio is currently 19.46%.
A number of equities research analysts have weighed in on the company. Piper Jaffray Cos. assumed coverage on General Motors in a research note on Thursday, June 9th. They set an “overweight” rating and a $41.00 price objective for the company. Vetr lowered General Motors from a “strong-buy” rating to a “buy” rating and set a $35.06 price objective for the company. in a research note on Monday, September 5th. Morgan Stanley upgraded General Motors from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $29.00 to $37.00 in a research note on Monday, September 19th. Barclays PLC restated an “equal weight” rating and set a $66.00 price objective on shares of General Motors in a research note on Friday, September 23rd. Finally, SunTrust Banks Inc. restated a “buy” rating and set a $28.00 price objective on shares of General Motors in a research note on Monday, June 20th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. General Motors currently has a consensus rating of “Hold” and an average target price of $37.03.
In other news, Director Jane L. Mendillo acquired 1,600 shares of General Motors stock in a transaction on Tuesday, August 2nd. The shares were purchased at an average price of $31.01 per share, with a total value of $49,616.00. Following the acquisition, the director now owns 1,600 shares in the company, valued at $49,616. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total value of $199,625.00. Following the transaction, the vice president now directly owns 27,477 shares in the company, valued at approximately $877,615.38. The disclosure for this sale can be found here. 0.04% of the stock is owned by insiders.
About General Motors
General Motors Company (General Motors) designs, builds and sells cars, trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s four automotive segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA).
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