General Motors Company (GM) Shares Sold by Camelot Portfolios LLC
Camelot Portfolios LLC reduced its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 21.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 10,468 shares of the auto manufacturer’s stock after selling 2,852 shares during the period. Camelot Portfolios LLC’s holdings in General Motors were worth $366,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new stake in shares of General Motors during the first quarter worth about $103,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in General Motors during the first quarter valued at approximately $106,000. FNY Managed Accounts LLC bought a new stake in General Motors during the first quarter valued at approximately $107,000. SRS Capital Advisors Inc. increased its stake in General Motors by 171.9% in the first quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the auto manufacturer’s stock valued at $182,000 after buying an additional 3,262 shares in the last quarter. Finally, North Star Investment Management Corp. increased its stake in General Motors by 0.8% in the first quarter. North Star Investment Management Corp. now owns 5,215 shares of the auto manufacturer’s stock valued at $184,000 after buying an additional 42 shares in the last quarter. 76.02% of the stock is owned by hedge funds and other institutional investors.
Shares of General Motors Company (NYSE:GM) opened at 35.30 on Tuesday. The stock has a market capitalization of $51.44 billion, a price-to-earnings ratio of 6.14 and a beta of 1.45. The stock’s 50 day moving average price is $35.21 and its 200-day moving average price is $35.22. General Motors Company has a 12 month low of $29.91 and a 12 month high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.17. The firm had revenue of $36.98 billion during the quarter, compared to analyst estimates of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.86 EPS. Equities analysts forecast that General Motors Company will post $6.14 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s dividend payout ratio is currently 26.48%.
Several analysts have commented on the company. Zacks Investment Research raised General Motors from a “sell” rating to a “hold” rating in a research note on Friday. Vetr downgraded General Motors from a “buy” rating to a “hold” rating and set a $37.42 price objective for the company. in a research note on Monday, July 31st. BidaskClub downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. ValuEngine raised General Motors from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Finally, Royal Bank Of Canada increased their target price on General Motors from $37.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. General Motors currently has a consensus rating of “Buy” and a consensus price target of $39.38.
In other news, insider Karl-Thomas Neumann sold 234,274 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $34.77, for a total transaction of $8,145,706.98. Following the completion of the transaction, the insider now owns 234,274 shares of the company’s stock, valued at $8,145,706.98. 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 acquired 1,520 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were bought at an average cost of $32.92 per share, with a total value of $50,038.40. Following the transaction, the director now directly owns 3,120 shares of the company’s stock, valued at approximately $102,710.40. The disclosure for this purchase can be found here. Insiders have sold 369,001 shares of company stock valued at $12,827,204 in the last ninety days. 0.04% of the stock is owned by company insiders.
General Motors Company Profile
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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