Daiwa Securities Group Inc. increased its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 9.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 536,395 shares of the auto manufacturer’s stock after buying an additional 47,595 shares during the period. Daiwa Securities Group Inc.’s holdings in General Motors were worth $18,736,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. IFC Holdings Incorporated FL boosted its stake in shares of General Motors by 83.3% in the first quarter. IFC Holdings Incorporated FL now owns 32,031 shares of the auto manufacturer’s stock valued at $1,141,000 after buying an additional 14,559 shares during the last quarter. Suntrust Banks Inc. boosted its stake in shares of General Motors by 29.5% in the first quarter. Suntrust Banks Inc. now owns 226,531 shares of the auto manufacturer’s stock valued at $8,008,000 after buying an additional 51,539 shares during the last quarter. Mosaic Family Wealth LLC boosted its stake in shares of General Motors by 9.9% in the first quarter. Mosaic Family Wealth LLC now owns 10,025 shares of the auto manufacturer’s stock valued at $354,000 after buying an additional 900 shares during the last quarter. Granite Investment Advisors LLC boosted its stake in shares of General Motors by 13.5% in the first quarter. Granite Investment Advisors LLC now owns 333,395 shares of the auto manufacturer’s stock valued at $11,789,000 after buying an additional 39,598 shares during the last quarter. Finally, Asset Management Advisors LLC boosted its stake in shares of General Motors by 2.1% in the first quarter. Asset Management Advisors LLC now owns 133,194 shares of the auto manufacturer’s stock valued at $4,710,000 after buying an additional 2,760 shares during the last quarter. Institutional investors and hedge funds own 76.04% of the company’s stock.
General Motors Company (GM) opened at 35.27 on Friday. The firm has a 50-day moving average of $35.21 and a 200-day moving average of $35.22. General Motors Company has a 52 week low of $29.91 and a 52 week high of $38.55. The company has a market capitalization of $51.40 billion, a P/E ratio of 6.13 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business had revenue of $36.98 billion during the quarter, compared to analysts’ expectations of $37.67 billion. During the same period last year, the business earned $1.86 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts anticipate that General Motors Company will post $6.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio is presently 26.48%.
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Several analysts have commented on GM shares. Royal Bank Of Canada reiterated a “hold” rating and issued a $37.00 price target on shares of General Motors in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Wednesday, June 21st. Jefferies Group LLC reiterated a “buy” rating and issued a $36.00 price target on shares of General Motors in a research note on Tuesday, June 13th. Piper Jaffray Companies reiterated a “buy” rating and issued a $44.00 price target on shares of General Motors in a research note on Wednesday, July 12th. Finally, ValuEngine upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. General Motors presently has a consensus rating of “Buy” and an average price target of $39.38.
In related news, insider Karl-Thomas Neumann sold 234,274 shares of General Motors stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $34.77, for a total value of $8,145,706.98. Following the completion of the transaction, the insider now owns 234,274 shares in the company, valued at $8,145,706.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles K. Stevens III sold 16,000 shares of General Motors stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $35.80, for a total transaction of $572,800.00. Following the completion of the transaction, the insider now owns 77,052 shares of the company’s stock, valued at approximately $2,758,461.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 371,687 shares of company stock valued at $12,918,125. 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’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.
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