General Motors Co. (GM) Shares Bought by Strs Ohio
Strs Ohio increased its stake in shares of General Motors Co. (NYSE:GM) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,367,253 shares of the auto manufacturer’s stock after buying an additional 16,976 shares during the period. Strs Ohio’s holdings in General Motors were worth $66,993,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. North Star Investment Management Corp. increased its position in General Motors by 809.5% in the second quarter. North Star Investment Management Corp. now owns 4,602 shares of the auto manufacturer’s stock valued at $130,000 after buying an additional 4,096 shares in the last quarter. Peapack Gladstone Financial Corp increased its position in General Motors by 3.6% in the first quarter. Peapack Gladstone Financial Corp now owns 6,402 shares of the auto manufacturer’s stock valued at $201,000 after buying an additional 225 shares in the last quarter. Mariner Wealth Advisors LLC increased its position in General Motors by 0.3% in the first quarter. Mariner Wealth Advisors LLC now owns 6,550 shares of the auto manufacturer’s stock valued at $206,000 after buying an additional 20 shares in the last quarter. V Wealth Management LLC increased its position in General Motors by 4.7% in the second quarter. V Wealth Management LLC now owns 7,941 shares of the auto manufacturer’s stock valued at $225,000 after buying an additional 355 shares in the last quarter. Finally, Trust Co purchased a new position in General Motors during the first quarter valued at $271,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.
Shares of General Motors Co. (NYSE:GM) traded down 0.22% on Tuesday, reaching $31.65. The company had a trading volume of 12,876,202 shares. General Motors Co. has a 12 month low of $26.69 and a 12 month high of $36.88. The stock has a 50 day moving average price of $31.40 and a 200-day moving average price of $30.79. The company has a market capitalization of $49.43 billion, a price-to-earnings ratio of 4.05 and a beta of 1.70.
General Motors (NYSE:GM) last issued its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, topping the consensus estimate of $1.51 by $0.35. The company earned $42.40 billion during the quarter, compared to analyst estimates of $38.81 billion. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. Analysts forecast that General Motors Co. will post $5.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be given a $0.38 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.80%. General Motors’s payout ratio is 19.46%.
Several equities analysts have weighed in on the company. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $34.00 target price (up from $32.00) on shares of General Motors in a research report on Sunday, July 24th. Vetr downgraded General Motors from a “strong-buy” rating to a “buy” rating and set a $35.06 price objective for the company. in a research report on Monday, September 5th. JPMorgan Chase & Co. reissued a “buy” rating and set a $43.00 price objective on shares of General Motors in a research report on Tuesday, July 26th. Citigroup Inc. reissued a “buy” rating and set a $50.00 price objective on shares of General Motors in a research report on Thursday, July 21st. Finally, Royal Bank Of Canada boosted their price objective on General Motors from $32.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. General Motors has an average rating of “Hold” and a consensus price target of $35.62.
In other news, Director Jane L. Mendillo bought 1,600 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was bought at an average price of $31.01 per share, for a total transaction of $49,616.00. Following the transaction, the director now owns 1,600 shares in the company, valued at $49,616. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas S. Timko sold 6,250 shares of General Motors stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total value of $199,625.00. Following the completion of the transaction, the vice president now owns 27,477 shares of the company’s stock, valued at approximately $877,615.38. The disclosure for this sale can be found here. 0.04% of the stock is owned by insiders.
About General Motors
General Motors Company (General Motors) designs, builds and sells cars, trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s four automotive segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA).
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