Retirement Systems of Alabama decreased its stake in General Motors Co. (NYSE:GM) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 714,366 shares of the auto manufacturer’s stock after selling 682 shares during the period. Retirement Systems of Alabama’s holdings in General Motors were worth $20,217,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the company. Prudential Financial Inc. increased its position in shares of General Motors by 128.9% in the first quarter. Prudential Financial Inc. now owns 6,044,453 shares of the auto manufacturer’s stock valued at $189,976,000 after buying an additional 3,403,440 shares during the last quarter. Natixis increased its position in shares of General Motors by 576.0% in the first quarter. Natixis now owns 2,515,846 shares of the auto manufacturer’s stock valued at $79,073,000 after buying an additional 2,143,679 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of General Motors during the first quarter valued at about $56,200,000. BB&T Securities LLC increased its position in shares of 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 valued at $54,727,000 after buying an additional 1,474,508 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of General Motors by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 38,094,453 shares of the auto manufacturer’s stock valued at $1,197,309,000 after buying an additional 591,216 shares during the last quarter. Hedge funds and other institutional investors own 70.40% of the company’s stock.
Shares of General Motors Co. (NYSE:GM) traded down 1.32% during trading on Thursday, reaching $31.48. 8,821,201 shares of the company traded hands. The firm has a market capitalization of $49.17 billion, a PE ratio of 4.03 and a beta of 1.70. General Motors Co. has a 12 month low of $26.69 and a 12 month high of $36.88. The firm has a 50-day moving average price of $31.66 and a 200-day moving average price of $30.85.
General Motors (NYSE:GM) last posted its quarterly earnings data on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.35. General Motors had a net margin of 7.90% and a return on equity of 23.96%. The company earned $42.40 billion during the quarter, compared to analyst estimates of $38.81 billion. During the same quarter last year, the firm posted $1.29 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts anticipate that General Motors Co. will post $5.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.83%. General Motors’s dividend payout ratio (DPR) is 19.46%.
Several brokerages have issued reports on GM. Vetr downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $33.66 price objective on the stock. in a research report on Monday. Barclays PLC reaffirmed an “equal weight” rating and issued a $66.00 target price on shares of General Motors in a report on Friday, September 23rd. Citigroup Inc. reaffirmed a “buy” rating and issued a $50.00 target price on shares of General Motors in a report on Thursday, September 22nd. Nomura began coverage on shares of General Motors in a report on Tuesday, September 20th. They issued a “neutral” rating and a $33.00 target price on the stock. Finally, Morgan Stanley raised shares of General Motors from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $29.00 to $37.00 in a report on Monday, September 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $37.03.
In other General Motors news, Director Jane L. Mendillo acquired 1,600 shares of General Motors stock in a transaction dated Tuesday, August 2nd. The stock was bought at an average price of $31.01 per share, for a total transaction of $49,616.00. Following the transaction, the director now owns 1,600 shares in the company, valued at approximately $49,616. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 owns 27,477 shares of the company’s stock, valued at approximately $877,615.38. The disclosure for this sale can be found here. Insiders own 0.04% of the company’s stock.
General Motors Company Profile
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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