Natixis lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 86.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 360,200 shares of the auto manufacturer’s stock after selling 2,311,339 shares during the quarter. Natixis’ holdings in General Motors were worth $13,090,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Icon Wealth Partners LLC bought a new position in General Motors during the fourth quarter valued at approximately $106,000. Stelac Advisory Services LLC bought a new position in shares of General Motors in the first quarter valued at approximately $119,000. Independence Bank of Kentucky bought a new position in shares of General Motors in the fourth quarter valued at approximately $129,000. Pinnacle Financial Partners Inc. bought a new position in shares of General Motors in the first quarter valued at approximately $141,000. Finally, Advisors Preferred LLC raised its position in shares of General Motors by 407.7% in the first quarter. Advisors Preferred LLC now owns 3,904 shares of the auto manufacturer’s stock valued at $142,000 after purchasing an additional 3,135 shares during the period. 73.43% of the stock is currently owned by hedge funds and other institutional investors.
In other General Motors news, EVP Alan S. Batey sold 215,685 shares of General Motors stock in a transaction on Friday, June 1st. The shares were sold at an average price of $43.01, for a total transaction of $9,276,611.85. Following the sale, the executive vice president now owns 84,594 shares in the company, valued at $3,638,387.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles K. Stevens III sold 35,000 shares of General Motors stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $36.10, for a total transaction of $1,263,500.00. Following the sale, the insider now owns 67,741 shares in the company, valued at approximately $2,445,450.10. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Thursday, April 26th. The auto manufacturer reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.19. General Motors had a negative net margin of 3.76% and a positive return on equity of 23.03%. The firm had revenue of $36.10 billion for the quarter, compared to the consensus estimate of $34.67 billion. During the same quarter in the previous year, the company earned $1.70 earnings per share. The business’s revenue was down 12.4% compared to the same quarter last year. sell-side analysts anticipate that General Motors will post 6.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 22nd. Shareholders of record on Friday, June 8th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.46%. General Motors’s dividend payout ratio is currently 22.96%.
A number of equities analysts have recently commented on GM shares. TheStreet raised shares of General Motors from a “c+” rating to a “b” rating in a research report on Friday, April 27th. Morgan Stanley raised shares of General Motors from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research report on Monday, April 9th. Vetr lowered shares of General Motors from a “hold” rating to a “sell” rating and set a $40.25 price target on the stock. in a research report on Tuesday, February 27th. Goldman Sachs Group reissued a “sell” rating and issued a $31.00 price target on shares of General Motors in a research report on Wednesday, March 28th. Finally, Zacks Investment Research lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $46.75.
About General Motors
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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