Pitcairn Co. Has $1,011,000 Position in General Motors Co. (GM)
Pitcairn Co. boosted its position in General Motors Co. (NYSE:GM) by 50.8% during the second quarter, Holdings Channel reports. The fund owned 35,726 shares of the auto manufacturer’s stock after buying an additional 12,036 shares during the period. Pitcairn Co.’s holdings in General Motors were worth $1,011,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of GM. Kovitz Investment Group Partners LLC bought a new position in General Motors during the first quarter valued at about $56,200,000. National Pension Service increased its position in General Motors by 4.1% in the first quarter. National Pension Service now owns 823,356 shares of the auto manufacturer’s stock valued at $25,878,000 after buying an additional 32,253 shares in the last quarter. Natixis increased its position in General Motors by 576.0% in the first quarter. Natixis now owns 2,515,846 shares of the auto manufacturer’s stock valued at $79,073,000 after buying an additional 2,143,679 shares in the last quarter. Acadian Asset Management LLC increased its position in General Motors by 6.5% in the second quarter. Acadian Asset Management LLC now owns 28,095 shares of the auto manufacturer’s stock valued at $795,000 after buying an additional 1,722 shares in the last quarter. Finally, Anchor Bolt Capital LP increased its position in General Motors by 6.2% in the first quarter. Anchor Bolt Capital LP now owns 4,699,537 shares of the auto manufacturer’s stock valued at $147,706,000 after buying an additional 273,835 shares in the last quarter. 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% during mid-day trading on Tuesday, reaching $31.65. 12,876,202 shares of the company were exchanged. The company’s 50 day moving average price is $31.40 and its 200 day moving average price is $30.80. The firm has a market capitalization of $49.43 billion, a PE ratio of 4.05 and a beta of 1.70. General Motors Co. has a 12 month low of $26.69 and a 12 month high of $36.88.
General Motors (NYSE:GM) last posted its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.35. The firm earned $42.40 billion during the quarter, compared to analyst estimates of $38.81 billion. General Motors had a net margin of 7.90% and a return on equity of 23.96%. General Motors’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 EPS. Equities analysts anticipate that General Motors Co. will post $5.84 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.80%. General Motors’s dividend payout ratio (DPR) is 19.46%.
Several research firms have issued reports on GM. Nomura began coverage on shares of General Motors in a research note on Tuesday. They issued a “neutral” rating and a $33.00 price objective for the company. Vetr cut shares of General Motors from a “strong-buy” rating to a “buy” rating and set a $35.44 target price for the company. in a report on Monday. Morgan Stanley raised shares of General Motors from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $29.00 to $37.00 in a report on Monday. Jefferies Group reaffirmed a “hold” rating on shares of General Motors in a report on Friday, September 2nd. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $36.00 target price on shares of General Motors in a report on Thursday, August 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.62.
In related news, Director Jane L. Mendillo purchased 1,600 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were bought at an average cost of $31.01 per share, for a total transaction of $49,616.00. Following the transaction, the director now owns 1,600 shares of the company’s stock, valued at $49,616. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas S. Timko sold 6,250 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total transaction of $199,625.00. Following the sale, the vice president now owns 27,477 shares in the company, valued at $877,615.38. The disclosure for this sale can be found here. Company insiders own 0.04% of the company’s stock.
General Motors Company Profile
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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