Quantbot Technologies LP lessened its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 37.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 93,364 shares of the auto manufacturer’s stock after selling 54,880 shares during the period. Quantbot Technologies LP’s holdings in General Motors were worth $3,261,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in GM. Clearbridge Investments LLC lifted its holdings 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 purchasing an additional 3,955,426 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of General Motors by 4.0% in the second quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after purchasing an additional 3,560,717 shares in the last quarter. Prudential Financial Inc. lifted its holdings 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 purchasing an additional 3,420,200 shares in the last quarter. Alliancebernstein L.P. lifted its holdings 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 purchasing an additional 2,407,818 shares in the last quarter. Finally, State Street Corp lifted its holdings 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 purchasing an additional 2,252,866 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.
In other General Motors news, insider Alan S. Batey sold 234,274 shares of the business’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 completion of the sale, the insider now owns 67,548 shares of the company’s stock, valued at approximately $2,569,525.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John J. Quattrone sold 15,000 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $35.00, for a total transaction of $525,000.00. Following the completion of the sale, the insider now directly owns 42,623 shares of the company’s stock, valued at approximately $1,491,805. The disclosure for this sale can be found here. In the last quarter, insiders sold 614,947 shares of company stock worth $22,402,528. 0.04% of the stock is owned by company insiders.
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A number of analysts have recently issued reports on the company. Buckingham Research restated a “hold” rating on shares of General Motors in a report on Thursday, August 24th. Wolfe Research assumed coverage on General Motors in a report on Tuesday, June 13th. They issued a “market perform” rating and a $33.00 target price for the company. Zacks Investment Research lowered General Motors from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. BidaskClub lowered General Motors from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Morgan Stanley restated an “overweight” rating and issued a $43.00 target price (up previously from $40.00) on shares of General Motors in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.11.
General Motors Company (NYSE:GM) traded up 0.77% during midday trading on Friday, hitting $39.40. 2,717,456 shares of the company traded hands. The stock’s 50-day moving average price is $36.19 and its 200 day moving average price is $35.09. The company has a market capitalization of $57.41 billion, a price-to-earnings ratio of 6.85 and a beta of 1.44. General Motors Company has a 12-month low of $30.21 and a 12-month high of $39.54.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, beating the Zacks’ 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 business had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. During the same quarter in the prior year, the business earned $1.86 EPS. General Motors’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts forecast that General Motors Company will post $6.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.91%. General Motors’s dividend payout ratio (DPR) is currently 26.48%.
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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