Sumitomo Mitsui Trust Holdings Inc. raised its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 1.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,277,219 shares of the auto manufacturer’s stock after buying an additional 76,960 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.29% of General Motors worth $149,403,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Clearbridge Investments LLC boosted its stake in shares of General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock valued at $140,394,000 after buying an additional 3,955,426 shares during the period. Prudential Financial Inc. boosted its stake in shares of General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock valued at $214,576,000 after buying an additional 3,420,200 shares during the period. Vanguard Group Inc. boosted its stake in shares of 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. Alliancebernstein L.P. boosted its stake in shares of General Motors by 87.0% in the first quarter. Alliancebernstein L.P. now owns 5,174,420 shares of the auto manufacturer’s stock valued at $182,967,000 after buying an additional 2,407,818 shares during the period. Finally, State Street Corp boosted its stake in shares of 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. Institutional investors and hedge funds own 75.56% of the company’s stock.
General Motors Company (NYSE GM) traded up 0.444% during midday trading on Tuesday, reaching $35.065. 1,407,521 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $35.49 and a 200-day moving average of $35.05. General Motors Company has a 12 month low of $30.13 and a 12 month high of $38.55. The stock has a market cap of $51.10 billion, a PE ratio of 6.096 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. During the same quarter last year, the business earned $1.86 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. On average, equities research analysts predict that General Motors Company will post $6.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio is 26.48%.
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Several analysts have weighed in on GM shares. Nomura reiterated a “buy” rating and issued a $47.00 price objective on shares of General Motors in a research note on Tuesday, May 2nd. BidaskClub upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada reiterated a “hold” rating and issued a $37.00 price objective on shares of General Motors in a research note on Friday, July 14th. ValuEngine upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of General Motors in a research note on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $39.26.
In related news, Director Jane L. Mendillo purchased 1,520 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average price of $32.92 per share, for a total transaction of $50,038.40. Following the completion of the acquisition, the director now directly owns 3,120 shares in the company, valued at approximately $102,710.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alan S. Batey sold 8,144 shares of General Motors stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $35.57, for a total transaction of $289,682.08. Following the completion of the sale, the insider now owns 66,748 shares in the company, valued at approximately $2,374,226.36. The disclosure for this sale can be found here. Insiders sold 330,673 shares of company stock worth $11,590,746 in the last 90 days. Company insiders own 0.04% of the company’s stock.
About General Motors
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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