Henderson Group PLC Reduces Stake in General Motors Co. (GM)
Henderson Group PLC decreased its stake in shares of General Motors Co. (NYSE:GM) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,440 shares of the auto manufacturer’s stock after selling 9,338 shares during the period. Henderson Group PLC’s holdings in General Motors were worth $4,907,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the stock. Artemis Investment Management LLP raised its position in General Motors by 126.9% in the second quarter. Artemis Investment Management LLP now owns 6,464,090 shares of the auto manufacturer’s stock valued at $182,903,000 after buying an additional 3,615,099 shares during the last quarter. Natixis raised 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 during the last quarter. Kovitz Investment Group Partners LLC bought a new position in General Motors during the first quarter valued at $56,200,000. Hamlin Capital Management LLC raised its position in General Motors by 28.5% in the second quarter. Hamlin Capital Management LLC now owns 2,466,744 shares of the auto manufacturer’s stock valued at $69,809,000 after buying an additional 547,532 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in General Motors by 4.7% in the first quarter. Geode Capital Management LLC now owns 12,181,917 shares of the auto manufacturer’s stock valued at $382,150,000 after buying an additional 542,835 shares during the last quarter. 70.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Motors Co. (NYSE:GM) traded down 0.51% on Tuesday, hitting $31.40. The stock had a trading volume of 7,973,320 shares. The company has a 50-day moving average of $31.76 and a 200 day moving average of $30.89. The company has a market capitalization of $49.04 billion, a price-to-earnings 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.
General Motors (NYSE:GM) last posted its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.35. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The business had revenue of $42.40 billion for the quarter, compared to the consensus estimate of $38.81 billion. During the same period in the prior year, the business earned $1.29 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts predict that General Motors Co. will post $5.83 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date was Wednesday, September 7th. General Motors’s dividend payout ratio (DPR) is currently 19.46%.
Several equities analysts have weighed in on GM shares. Robert W. Baird reissued a “neutral” rating and issued a $25.00 target price on shares of General Motors in a research note on Monday, June 20th. SunTrust Banks Inc. reissued a “buy” rating and issued a $28.00 target price on shares of General Motors in a research note on Monday, June 20th. Vetr lowered General Motors from a “strong-buy” rating to a “buy” rating and set a $33.03 target price on the stock. in a research note on Monday, June 20th. Zacks Investment Research raised General Motors from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Wednesday, June 22nd. Finally, Tigress Financial reissued a “buy” rating on shares of General Motors in a research note on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. General Motors has a consensus rating of “Hold” and an average price target of $36.67.
In related news, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total transaction of $199,625.00. Following the transaction, the vice president now directly owns 27,477 shares of the company’s stock, valued at approximately $877,615.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jane L. Mendillo purchased 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were purchased at an average cost of $31.01 per share, for a total transaction of $49,616.00. Following the completion of the purchase, the director now owns 1,600 shares in the company, valued at approximately $49,616. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.
About General Motors
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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