WealthTrust Axiom LLC raised its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 7.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 23,140 shares of the auto manufacturer’s stock after buying an additional 1,650 shares during the period. WealthTrust Axiom LLC’s holdings in General Motors were worth $808,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position 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 worth $3,177,214,000 after buying an additional 2,744,821 shares in the last quarter. State Street Corp boosted its position 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 worth $2,136,563,000 after buying an additional 2,252,866 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of General Motors by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 14,508,664 shares of the auto manufacturer’s stock worth $513,021,000 after buying an additional 284,693 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of General Motors by 9.9% in the first quarter. Geode Capital Management LLC now owns 14,071,387 shares of the auto manufacturer’s stock worth $496,891,000 after buying an additional 1,266,564 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of General Motors by 3.3% in the first quarter. Legal & General Group Plc now owns 7,618,441 shares of the auto manufacturer’s stock worth $269,387,000 after buying an additional 246,770 shares in the last quarter. 76.02% of the stock is currently owned by hedge funds and other institutional investors.
General Motors Company (NYSE:GM) opened at 35.30 on Tuesday. 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 firm has a market cap of $51.44 billion, a price-to-earnings ratio of 6.14 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping 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 company had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. During the same period in the prior year, the business earned $1.86 earnings per share. General Motors’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities research analysts forecast that General Motors Company will post $6.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.31%. General Motors’s payout ratio is 26.48%.
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A number of equities analysts have issued reports on GM shares. BidaskClub cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. BMO Capital Markets reissued a “market perform” rating on shares of General Motors in a report on Wednesday, May 3rd. Vetr raised shares of General Motors from a “hold” rating to a “buy” rating and set a $37.42 target price on the stock in a report on Monday, July 24th. 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. Finally, Buckingham Research reissued a “neutral” rating on shares of General Motors in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $39.38.
In related news, VP Thomas S. Timko sold 17,255 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $35.79, for a total transaction of $617,556.45. Following the completion of the sale, the vice president now directly owns 26,100 shares of the company’s stock, valued at $934,119. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Karl-Thomas Neumann sold 46,472 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $32.84, for a total transaction of $1,526,140.48. The disclosure for this sale can be found here. Insiders have sold 369,001 shares of company stock worth $12,827,204 over the last quarter. 0.04% of the stock is owned by company insiders.
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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