General Motors Company (GM) Position Reduced by Lingohr & Partner Asset Management GmbH
Lingohr & Partner Asset Management GmbH cut its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 4.2% during the first quarter, Holdings Channel reports. The firm owned 42,355 shares of the auto manufacturer’s stock after selling 1,845 shares during the period. General Motors Company accounts for about 0.8% of Lingohr & Partner Asset Management GmbH’s holdings, making the stock its 27th largest position. Lingohr & Partner Asset Management GmbH’s holdings in General Motors Company were worth $1,498,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Elgethun Capital Management acquired a new stake in shares of General Motors Company during the fourth quarter worth approximately $101,000. State of Alaska Department of Revenue acquired a new stake in shares of General Motors Company during the first quarter worth approximately $103,000. LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of General Motors Company during the fourth quarter worth approximately $119,000. Itau Unibanco Holding S.A. acquired a new stake in shares of General Motors Company during the third quarter worth approximately $135,000. Finally, North Star Investment Management Corp. boosted its stake in shares of General Motors Company by 0.8% in the first quarter. North Star Investment Management Corp. now owns 5,215 shares of the auto manufacturer’s stock worth $184,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 71.57% of the company’s stock.
General Motors Company (NYSE:GM) opened at 34.34 on Friday. The firm has a 50-day moving average price of $33.75 and a 200-day moving average price of $35.41. General Motors Company has a 12 month low of $27.34 and a 12 month high of $38.55. The stock has a market cap of $51.82 billion, a price-to-earnings ratio of 5.31 and a beta of 1.32.
General Motors Company (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Friday, April 28th. The auto manufacturer reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.25. The business had revenue of $41.20 billion during the quarter, compared to the consensus estimate of $37.38 billion. General Motors Company had a return on equity of 23.30% and a net margin of 6.35%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $1.26 earnings per share. Equities research analysts expect that General Motors Company will post $6.10 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.43%. The ex-dividend date is Wednesday, June 7th. General Motors Company’s dividend payout ratio is presently 25.33%.
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A number of analysts have recently commented on GM shares. Vetr cut shares of General Motors Company from a “hold” rating to a “sell” rating and set a $34.85 target price on the stock. in a report on Tuesday, February 14th. Jefferies Group LLC restated a “hold” rating and set a $36.00 target price on shares of General Motors Company in a report on Thursday, February 16th. Instinet upgraded shares of General Motors Company from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $45.00 in a report on Monday, March 6th. Nomura upgraded shares of General Motors Company from a “neutral” rating to a “buy” rating in a report on Monday, March 6th. Finally, Evercore ISI restated an “in-line” rating and set a $40.00 target price on shares of General Motors Company in a report on Monday, March 6th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company’s stock. General Motors Company presently has an average rating of “Buy” and an average price target of $38.82.
In other General Motors Company news, Director Jane L. Mendillo purchased 1,520 shares of the stock in a transaction on Friday, May 26th. The stock was acquired at an average price of $32.92 per share, with a total value of $50,038.40. Following the completion of the acquisition, the director now owns 3,120 shares in the company, valued at $102,710.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark L. Reuss sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $33.35, for a total value of $2,501,250.00. Following the completion of the sale, the insider now directly owns 133,052 shares of the company’s stock, valued at approximately $4,437,284.20. The disclosure for this sale can be found here. In the last three months, insiders sold 126,828 shares of company stock valued at $4,208,691. Corporate insiders own 0.04% of the company’s stock.
About General Motors Company
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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