Fort Washington Investment Advisors Inc. OH Raises Stake in General Motors Company (GM)
Fort Washington Investment Advisors Inc. OH lifted its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 0.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,383 shares of the auto manufacturer’s stock after purchasing an additional 201 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in General Motors were worth $5,602,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of GM. Clearbridge Investments LLC raised its position in General Motors by 26,374.8% in the 1st quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock valued at $140,394,000 after buying an additional 3,955,426 shares during the last quarter. Prudential Financial Inc. grew its stake in General Motors by 129.2% in the 1st quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock valued at $214,576,000 after purchasing an additional 3,420,200 shares during the period. Vanguard Group Inc. grew its stake in General Motors by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 89,853,324 shares of the auto manufacturer’s stock valued at $3,177,214,000 after purchasing an additional 2,744,821 shares during the period. Alliancebernstein L.P. grew its stake in General Motors by 87.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,174,420 shares of the auto manufacturer’s stock valued at $182,967,000 after purchasing an additional 2,407,818 shares during the period. Finally, State Street Corp grew its stake in General Motors by 3.9% in the 1st quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after purchasing an additional 2,252,866 shares during the period. 72.21% of the stock is currently owned by institutional investors.
General Motors Company (NYSE:GM) traded up 0.18% during mid-day trading on Thursday, reaching $38.28. The company’s stock had a trading volume of 1,848,962 shares. The stock has a 50-day moving average price of $35.79 and a 200-day moving average price of $35.04. The company has a market capitalization of $55.78 billion, a price-to-earnings ratio of 6.66 and a beta of 1.44. General Motors Company has a one year low of $30.21 and a one year high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion during the quarter, compared to analyst estimates of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.86 EPS. Equities research analysts forecast that General Motors Company will post $6.13 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors 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 dividend on an annualized basis and a yield of 3.98%. General Motors’s dividend payout ratio (DPR) is 26.48%.
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A number of brokerages have issued reports on GM. Piper Jaffray Companies restated a “buy” rating and issued a $44.00 price objective on shares of General Motors in a research note on Tuesday. Buckingham Research restated a “neutral” rating and issued a $33.00 price objective on shares of General Motors in a research note on Friday, September 8th. BidaskClub upgraded General Motors from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. 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 17th. Finally, Zacks Investment Research downgraded General Motors from a “hold” rating to a “strong sell” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $38.97.
In related news, Director Jane L. Mendillo acquired 1,440 shares of General Motors stock in a transaction on Friday, August 18th. The stock was acquired at an average price of $34.86 per share, for a total transaction of $50,198.40. Following the purchase, the director now owns 4,560 shares of the company’s stock, valued at approximately $158,961.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Patricia F. Russo acquired 10,000 shares of General Motors stock in a transaction on Tuesday, August 1st. The shares were bought at an average price of $34.73 per share, with a total value of $347,300.00. Following the purchase, the director now directly owns 12,300 shares in the company, valued at approximately $427,179. The disclosure for this purchase can be found here. Insiders sold a total of 330,673 shares of company stock valued at $11,590,746 in the last 90 days. 0.04% of the stock is currently 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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