General Motors Company (GM) Holdings Maintained by Lumbard & Kellner LLC

Lumbard & Kellner LLC maintained its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,501 shares of the auto manufacturer’s stock at the end of the 2nd quarter. Lumbard & Kellner LLC’s holdings in General Motors were worth $1,519,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GM. Clearbridge Investments LLC raised its stake in shares of General Motors by 26,374.8% during 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. Prudential Financial Inc. raised its stake in shares of General Motors by 129.2% during 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. Vanguard Group Inc. raised its stake in shares of General Motors by 3.2% during 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 purchasing an additional 2,744,821 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of General Motors by 87.0% during 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 raised its stake in shares of General Motors by 3.9% during 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 and hedge funds own 72.21% of the company’s stock.

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In other news, VP Thomas S. Timko sold 17,255 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $35.79, for a total transaction of $617,556.45. Following the sale, the vice president now 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 the SEC website. Also, Director Jane L. Mendillo purchased 1,440 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average cost of $34.86 per share, for a total transaction of $50,198.40. Following the transaction, the director now owns 4,560 shares of the company’s stock, valued at $158,961.60. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 330,673 shares of company stock worth $11,590,746. 0.04% of the stock is currently owned by insiders.

General Motors Company (NYSE:GM) traded up 1.20% during trading on Tuesday, reaching $37.80. The company’s stock had a trading volume of 1,466,778 shares. The stock’s 50 day moving average is $35.68 and its 200-day moving average is $35.02. The firm has a market cap of $55.08 billion, a P/E ratio of 6.57 and a beta of 1.44. General Motors Company has a 52 week low of $30.21 and a 52 week high of $38.55.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. General Motors’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 earnings per share. On average, equities research analysts forecast that General Motors Company will post $6.13 earnings per share for the current fiscal year.

The firm also recently declared 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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio is currently 26.48%.

A number of brokerages recently weighed in on GM. Berenberg Bank set a $31.00 price objective on shares of General Motors and gave the company a “sell” rating in a research note on Monday, August 14th. Buckingham Research restated a “neutral” rating and set a $33.00 price objective on shares of General Motors in a research note on Friday. BidaskClub upgraded shares of General Motors from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Vetr upgraded shares of General Motors to a “strong-buy” rating in a research note on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given 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 price target of $38.97.

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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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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