Gluskin Sheff & Assoc Inc. cut its stake in shares of General Motors Co. (NYSE:GM) by 23.6% during the second quarter, Holdings Channel reports. The fund owned 806,885 shares of the auto manufacturer’s stock after selling 249,340 shares during the period. General Motors comprises 2.0% of Gluskin Sheff & Assoc Inc.’s investment portfolio, making the stock its 20th largest position. Gluskin Sheff & Assoc Inc.’s holdings in General Motors were worth $22,835,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BB&T Securities LLC increased its stake in General Motors by 552.8% in the first quarter. BB&T Securities LLC now owns 1,741,235 shares of the auto manufacturer’s stock worth $54,727,000 after buying an additional 1,474,508 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in General Motors by 126.1% in the first quarter. Canada Pension Plan Investment Board now owns 513,210 shares of the auto manufacturer’s stock worth $16,130,000 after buying an additional 286,210 shares in the last quarter. Ruffer LLP bought a new stake in General Motors during the first quarter worth about $628,000. Aviva PLC increased its stake in General Motors by 16.8% in the first quarter. Aviva PLC now owns 1,196,456 shares of the auto manufacturer’s stock worth $37,605,000 after buying an additional 172,151 shares in the last quarter. Finally, Wunderlich Capital Managemnt increased its stake in General Motors by 2.0% in the first quarter. Wunderlich Capital Managemnt now owns 43,810 shares of the auto manufacturer’s stock worth $1,377,000 after buying an additional 873 shares in the last quarter. 70.40% of the stock is owned by hedge funds and other institutional investors.
Shares of General Motors Co. (NYSE:GM) traded up 1.59% on Wednesday, reaching $32.68. 11,010,758 shares of the company were exchanged. The firm’s 50 day moving average price is $31.68 and its 200 day moving average price is $30.85. The stock has a market capitalization of $51.04 billion, a price-to-earnings ratio of 4.19 and a beta of 1.65. General Motors Co. has a 52 week low of $26.69 and a 52 week high of $36.88.
General Motors (NYSE:GM) last posted its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 7.90% and a return on equity of 23.96%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 EPS. Equities research analysts anticipate that General Motors Co. will post $5.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend was Wednesday, September 7th. General Motors’s dividend payout ratio (DPR) is 19.46%.
GM has been the subject of several recent research reports. Piper Jaffray Cos. initiated coverage on shares of General Motors in a research note on Thursday, June 9th. They issued an “overweight” rating and a $41.00 price target for the company. Vetr downgraded shares of General Motors from a “strong-buy” rating to a “buy” rating and set a $35.06 price target for the company. in a research note on Monday, September 5th. Morgan Stanley raised shares of General Motors from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $29.00 to $37.00 in a research note on Monday, September 19th. Barclays PLC reissued an “equal weight” rating and issued a $66.00 price target on shares of General Motors in a research note on Friday, September 23rd. Finally, SunTrust Banks Inc. reissued a “buy” rating and issued a $28.00 price target on shares of General Motors in a research note on Monday, June 20th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $37.02.
In other General Motors news, Director Jane L. Mendillo bought 1,600 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were acquired at an average price of $31.01 per share, with a total value of $49,616.00. Following the transaction, the director now owns 1,600 shares of the company’s stock, valued at approximately $49,616. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas S. Timko sold 6,250 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $31.94, for a total transaction 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. Company insiders own 0.04% of the company’s stock.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.
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