Profund Advisors LLC grew its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 23.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,730 shares of the auto manufacturer’s stock after buying an additional 7,309 shares during the period. Profund Advisors LLC’s holdings in General Motors were worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in GM. Waldron LP raised its position in shares of General Motors by 13.6% during the first quarter. Waldron LP now owns 8,132 shares of the auto manufacturer’s stock valued at $287,000 after buying an additional 975 shares during the last quarter. Boston Partners purchased a new position in shares of General Motors in the first quarter valued at $562,000. Gargoyle Investment Advisor L.L.C. grew its holdings in shares of General Motors by 5.2% in the first quarter. Gargoyle Investment Advisor L.L.C. now owns 102,438 shares of the auto manufacturer’s stock valued at $3,623,000 after purchasing an additional 5,040 shares in the last quarter. Xact Kapitalforvaltning AB grew its holdings in shares of General Motors by 2.8% in the first quarter. Xact Kapitalforvaltning AB now owns 240,014 shares of the auto manufacturer’s stock valued at $8,487,000 after purchasing an additional 6,549 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its holdings in shares of General Motors by 1.0% in the first quarter. Pictet Asset Management Ltd. now owns 734,410 shares of the auto manufacturer’s stock valued at $25,969,000 after purchasing an additional 7,318 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.
Shares of General Motors Company (NYSE GM) opened at 38.70 on Wednesday. General Motors Company has a 12-month low of $30.21 and a 12-month high of $39.18. The company has a 50 day moving average price of $36.19 and a 200 day moving average price of $35.09. The company has a market capitalization of $56.39 billion, a P/E ratio of 6.73 and a beta of 1.44.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company 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 posted $1.86 EPS. General Motors’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts anticipate that General Motors Company will post $6.13 EPS for the current 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 3.93%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio (DPR) is 26.48%.
GM has been the subject of a number of recent research reports. Piper Jaffray Companies reissued a “buy” rating and issued a $44.00 target price on shares of General Motors in a report on Tuesday, September 12th. Royal Bank Of Canada reissued a “hold” rating and issued a $37.00 target price on shares of General Motors in a report on Friday, July 14th. Buckingham Research reissued a “neutral” rating and issued a $33.00 target price on shares of General Motors in a report on Friday, September 8th. Zacks Investment Research raised shares of General Motors from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Wednesday, June 21st. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $36.00 target price on shares of General Motors in a report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $38.97.
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In other news, Director Patricia F. Russo bought 10,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average cost of $34.73 per share, for a total transaction of $347,300.00. Following the acquisition, the director now directly owns 12,300 shares of the company’s stock, valued at approximately $427,179. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alan S. Batey sold 234,274 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $38.04, for a total value of $8,911,782.96. Following the transaction, the insider now owns 67,548 shares of the company’s stock, valued at $2,569,525.92. The disclosure for this sale can be found here. Insiders have sold a total of 614,947 shares of company stock valued at $22,402,528 over the last 90 days. 0.04% of the stock is currently owned by company insiders.
General Motors 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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