General Motors Company (NYSE:GM) Stake Decreased by Parkwood LLC

Parkwood LLC lowered its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 17.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,147 shares of the auto manufacturer’s stock after selling 24,845 shares during the period. Parkwood LLC’s holdings in General Motors were worth $4,197,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of GM. Vanguard Group Inc. increased its stake in General Motors by 3.2% in the first quarter. Vanguard Group Inc. now owns 89,853,324 shares of the auto manufacturer’s stock valued at $3,177,214,000 after buying an additional 2,744,821 shares during the period. State Street Corp increased its stake in General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after buying an additional 2,252,866 shares during the period. Dimensional Fund Advisors LP increased its stake in General Motors by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 14,508,664 shares of the auto manufacturer’s stock valued at $513,021,000 after buying an additional 284,693 shares during the period. Geode Capital Management LLC increased its stake in General Motors by 9.9% in the first quarter. Geode Capital Management LLC now owns 14,071,387 shares of the auto manufacturer’s stock valued at $496,891,000 after buying an additional 1,266,564 shares during the period. Finally, Legal & General Group Plc increased its stake in General Motors by 3.3% in the first quarter. Legal & General Group Plc now owns 7,618,441 shares of the auto manufacturer’s stock valued at $269,387,000 after buying an additional 246,770 shares during the period. Institutional investors and hedge funds own 76.04% of the company’s stock.

General Motors Company (NYSE GM) traded down 3.61% during midday trading on Tuesday, hitting $34.68. 13,932,987 shares of the company traded hands. The stock has a market cap of $50.54 billion, a P/E ratio of 6.03 and a beta of 1.45. General Motors Company has a 12-month low of $29.82 and a 12-month high of $38.55. The stock has a 50 day moving average of $35.21 and a 200 day moving average of $35.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. General Motors’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 earnings per share. Equities research analysts predict that General Motors Company will post $6.13 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Thursday, September 7th. General Motors’s payout ratio is currently 26.48%.

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GM has been the subject of several research reports. BidaskClub downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. BMO Capital Markets reiterated a “market perform” rating on shares of General Motors in a research report on Wednesday, May 3rd. Vetr upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $37.42 price target for the company in a research report on Monday, July 24th. Royal Bank Of Canada reiterated a “hold” rating and issued a $37.00 price target on shares of General Motors in a research report on Friday, July 14th. Finally, Buckingham Research reiterated a “neutral” rating on shares of General Motors in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $39.38.

In related news, Director Jane L. Mendillo purchased 1,520 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were purchased at an average price of $32.92 per share, with a total value of $50,038.40. Following the purchase, the director now owns 3,120 shares of the company’s stock, valued at approximately $102,710.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John J. Quattrone sold 15,000 shares of General Motors stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $35.00, for a total value of $525,000.00. Following the completion of the transaction, the insider now directly owns 42,623 shares in the company, valued at approximately $1,491,805. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 139,158 shares of company stock worth $4,643,312. 0.04% of the stock is owned by corporate insiders.

General Motors Company Profile

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.