Tufton Capital Management Lowers Stake in General Motors Co. (GM)
Tufton Capital Management reduced its stake in General Motors Co. (NYSE:GM) by 6.5% during the second quarter, Holdings Channel reports. The institutional investor owned 134,369 shares of the auto manufacturer’s stock after selling 9,294 shares during the period. Tufton Capital Management’s holdings in General Motors were worth $3,803,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. North Star Investment Management Corp. boosted its stake in shares of 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 boosted its stake in shares of 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 boosted its stake in shares of 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 boosted its stake in shares of 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 stake in shares of General Motors during the first quarter valued at $271,000. Institutional investors and hedge funds own 70.40% of the company’s stock.
Shares of General Motors Co. (NYSE:GM) traded up 1.45% during mid-day trading on Wednesday, reaching $32.11. The company’s stock had a trading volume of 14,468,725 shares. The company has a market capitalization of $50.15 billion, a price-to-earnings ratio of 4.11 and a beta of 1.70. The company’s 50 day moving average price is $31.47 and its 200-day moving average price is $30.81. General Motors Co. has a 1-year low of $26.69 and a 1-year high of $36.88.
General Motors (NYSE:GM) last announced its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.35. The company earned $42.40 billion during the quarter, compared to the consensus estimate of $38.81 billion. General Motors had a return on equity of 23.96% and a net margin of 7.90%. General Motors’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 EPS. Analysts predict that General Motors Co. will post $5.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Wednesday, September 7th. General Motors’s dividend payout ratio (DPR) is 19.46%.
Several equities research analysts have weighed in on the company. Piper Jaffray Cos. assumed coverage on General Motors in a report on Thursday, June 9th. They issued an “overweight” rating and a $41.00 target price for the company. Vetr cut General Motors from a “strong-buy” rating to a “buy” rating and set a $35.06 price objective for the company. in a research note on Monday, September 5th. Morgan Stanley upgraded General Motors from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $29.00 to $37.00 in a research note on Monday. SunTrust Banks Inc. restated a “buy” rating and set a $28.00 price objective on shares of General Motors in a research note on Monday, June 20th. Finally, Seaport Global Securities started coverage on General Motors in a research note on Tuesday, August 9th. They set a “buy” rating and a $42.00 price objective for the company. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.62.
In other General Motors news, VP Thomas S. Timko sold 6,250 shares of General Motors 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 completion of the sale, the vice president now directly owns 27,477 shares of the company’s stock, valued at approximately $877,615.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jane L. Mendillo purchased 1,600 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were acquired at an average cost of $31.01 per share, with a total value of $49,616.00. Following the completion of the acquisition, the director now directly owns 1,600 shares in the company, valued at $49,616. The disclosure for this purchase 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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