Ridgewood Investments LLC Continues to Hold Position in General Motors Company (NYSE:GM)
Ridgewood Investments LLC held its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,022 shares of the auto manufacturer’s stock at the end of the second quarter. Ridgewood Investments LLC’s holdings in General Motors were worth $385,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Macquarie Group Ltd. boosted its stake in 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 last quarter. Alpha Windward LLC boosted its stake in General Motors by 0.4% in the first quarter. Alpha Windward LLC now owns 5,417 shares of the auto manufacturer’s stock valued at $192,000 after buying an additional 21 shares during the last quarter. Visionary Asset Management Inc. boosted its stake in General Motors by 3.5% in the first quarter. Visionary Asset Management Inc. now owns 97,708 shares of the auto manufacturer’s stock valued at $3,455,000 after buying an additional 3,303 shares during the last quarter. BKD Wealth Advisors LLC boosted its stake in General Motors by 3.0% in the first quarter. BKD Wealth Advisors LLC now owns 69,521 shares of the auto manufacturer’s stock valued at $2,458,000 after buying an additional 2,001 shares during the last quarter. Finally, Atria Investments LLC boosted its stake in General Motors by 33.6% in the first quarter. Atria Investments LLC now owns 87,888 shares of the auto manufacturer’s stock valued at $3,108,000 after buying an additional 22,126 shares during the last quarter. 76.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Motors Company (GM) opened at 34.93 on Friday. The firm’s 50-day moving average is $35.37 and its 200-day moving average is $35.14. The stock has a market capitalization of $50.90 billion, a price-to-earnings ratio of 6.07 and a beta of 1.45. General Motors Company has a 52 week low of $30.13 and a 52 week high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion during the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. General Motors’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.86 earnings per share. Analysts forecast that General Motors Company will post $6.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.35%. General Motors’s dividend payout ratio (DPR) is 26.48%.
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GM has been the topic of several research reports. Nomura reaffirmed a “buy” rating and set a $47.00 price objective on shares of General Motors in a research report on Tuesday, May 2nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of General Motors in a research report on Wednesday, May 3rd. Buckingham Research reaffirmed a “neutral” rating on shares of General Motors in a research report on Friday, June 2nd. Vetr raised General Motors to a “strong-buy” rating in a research report on Friday, June 9th. Finally, Berenberg Bank reaffirmed a “sell” rating and set a $31.00 price objective on shares of General Motors in a research report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $39.26.
In related news, Director Jane L. Mendillo acquired 1,520 shares of the stock in a transaction dated Friday, May 26th. The stock was acquired at an average cost of $32.92 per share, for a total transaction of $50,038.40. Following the completion of the purchase, the director now owns 3,120 shares of the company’s stock, valued at approximately $102,710.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Karl-Thomas Neumann sold 46,472 shares of General Motors stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $32.84, for a total transaction of $1,526,140.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 369,001 shares of company stock valued at $12,827,204. 0.04% of the stock is owned by 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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