Daniel Devine & Co Has $1,044,000 Position in General Motors Co. (GM)
Daniel Devine & Co reduced its position in General Motors Co. (NYSE:GM) by 25.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,900 shares of the auto manufacturer’s stock after selling 12,300 shares during the period. Daniel Devine & Co’s holdings in General Motors were worth $1,044,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of GM. Canada Pension Plan Investment Board increased its position in General Motors by 126.1% in the first quarter. Canada Pension Plan Investment Board now owns 513,210 shares of the auto manufacturer’s stock worth $16,130,000 after buying an additional 286,210 shares during the last quarter. Kempen Capital Management N.V. increased its position in General Motors by 2.8% in the first quarter. Kempen Capital Management N.V. now owns 708,200 shares of the auto manufacturer’s stock worth $22,259,000 after buying an additional 19,400 shares during the last quarter. Pegasus Partners Ltd. bought a new position in General Motors during the first quarter worth about $548,000. State Street Corp increased its position in General Motors by 0.6% in the first quarter. State Street Corp now owns 57,087,337 shares of the auto manufacturer’s stock worth $1,794,252,000 after buying an additional 351,497 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its position in General Motors by 2.3% in the first quarter. Rafferty Asset Management LLC now owns 23,073 shares of the auto manufacturer’s stock worth $725,000 after buying an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 70.43% of the company’s stock.
Shares of General Motors Co. (NYSE:GM) traded down 0.51% during midday trading on Tuesday, hitting $31.40. 7,973,320 shares of the stock were exchanged. The stock has a market cap of $49.04 billion, a P/E ratio of 4.02 and a beta of 1.65. General Motors Co. has a 52-week low of $26.69 and a 52-week high of $36.88. The firm’s 50 day moving average price is $31.76 and its 200-day moving average price is $30.89.
General Motors (NYSE:GM) last issued its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.35. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The firm earned $42.40 billion during the quarter, compared to the consensus estimate of $38.81 billion. During the same period last year, the company earned $1.29 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. On average, equities research analysts expect that General Motors Co. will post $5.83 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were issued a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.84%. General Motors’s payout ratio is 19.46%.
A number of research analysts recently issued reports on GM shares. Vetr upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating and set a $35.06 target price on the stock in a research report on Monday, September 12th. Robert W. Baird reiterated a “neutral” rating and set a $25.00 target price on shares of General Motors in a research report on Monday, June 20th. Citigroup Inc. reiterated a “buy” rating and set a $50.00 target price on shares of General Motors in a research report on Thursday, July 21st. Goldman Sachs Group Inc. downgraded shares of General Motors to a “neutral” rating and dropped their target price for the company from $37.00 to $29.00 in a research report on Thursday, October 6th. Finally, Zacks Investment Research lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $36.67.
In other General Motors news, Director Jane L. Mendillo acquired 1,600 shares of General Motors stock in a transaction that occurred on Tuesday, August 2nd. The stock was bought at an average cost of $31.01 per share, for a total transaction of $49,616.00. Following the acquisition, the director now owns 1,600 shares of the company’s stock, valued at $49,616. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $199,625.00. Following the completion of the sale, the vice president now owns 27,477 shares of the company’s stock, valued at $877,615.38. The disclosure for this sale can be found here. 0.04% of the stock is owned by corporate insiders.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.
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