Menora Mivtachim Holdings LTD. Sells 785,000 Shares of General Motors Company (GM)
Menora Mivtachim Holdings LTD. lowered its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 67.4% during the second quarter, Holdings Channel reports. The firm owned 379,190 shares of the auto manufacturer’s stock after selling 785,000 shares during the period. Menora Mivtachim Holdings LTD.’s holdings in General Motors were worth $13,245,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Macquarie Group Ltd. boosted its stake in shares of General Motors by 92.5% in the fourth quarter. Macquarie Group Ltd. now owns 76,600 shares of the auto manufacturer’s stock valued at $2,669,000 after buying an additional 36,800 shares during the period. Fulton Bank N.A. boosted its stake in shares of General Motors by 1.4% in the first quarter. Fulton Bank N.A. now owns 9,684 shares of the auto manufacturer’s stock valued at $342,000 after buying an additional 137 shares during the period. Raymond James Trust N.A. boosted its stake in shares of General Motors by 37.1% in the first quarter. Raymond James Trust N.A. now owns 19,331 shares of the auto manufacturer’s stock valued at $684,000 after buying an additional 5,231 shares during the period. Gulf International Bank UK Ltd boosted its stake in shares of General Motors by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 430,941 shares of the auto manufacturer’s stock valued at $15,238,000 after buying an additional 5,500 shares during the period. Finally, National Pension Service boosted its stake in shares of General Motors by 3.4% in the first quarter. National Pension Service now owns 1,110,424 shares of the auto manufacturer’s stock valued at $39,320,000 after buying an additional 36,952 shares during the period. 76.02% of the stock is currently owned by 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. General Motors Company has a 52 week low of $29.91 and a 52 week high of $38.55. The firm’s 50-day moving average is $35.21 and its 200-day moving average is $35.22.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $1.86 EPS. On average, equities research analysts anticipate that General Motors Company will post $6.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a $0.38 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.31%. General Motors’s dividend payout ratio (DPR) is 26.48%.
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GM has been the topic of several recent research reports. UBS AG reaffirmed a “buy” rating and set a $40.00 target price (up previously from $38.00) on shares of General Motors in a research note on Friday, April 14th. Nomura reaffirmed a “buy” rating and set a $47.00 target price on shares of General Motors in a research note on Tuesday, May 2nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of General Motors in a research note on Wednesday, May 3rd. Buckingham Research reaffirmed a “neutral” rating on shares of General Motors in a research note on Friday, June 2nd. Finally, Vetr raised shares of General Motors to a “strong-buy” rating in a research note on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $39.38.
In other news, VP Thomas S. Timko sold 17,255 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $35.79, for a total value of $617,556.45. Following the transaction, the vice president now directly owns 26,100 shares in the company, valued at approximately $934,119. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Karl-Thomas Neumann sold 234,274 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $34.77, for a total value of $8,145,706.98. Following the completion of the transaction, the insider now owns 234,274 shares in the company, valued at $8,145,706.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 369,001 shares of company stock worth $12,827,204. Company 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’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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