Mackenzie Financial Corp Trims Stake in General Motors (GM)
Mackenzie Financial Corp trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 500,736 shares of the auto manufacturer’s stock after selling 4,671 shares during the quarter. Mackenzie Financial Corp’s holdings in General Motors were worth $20,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in GM. Dimensional Fund Advisors LP lifted its holdings in General Motors by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,900,059 shares of the auto manufacturer’s stock worth $601,683,000 after purchasing an additional 331,621 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in General Motors by 1.0% in the 4th quarter. Bank of New York Mellon Corp now owns 11,020,001 shares of the auto manufacturer’s stock worth $451,709,000 after purchasing an additional 110,658 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in General Motors by 5.5% in the 3rd quarter. Janus Henderson Group PLC now owns 10,815,151 shares of the auto manufacturer’s stock worth $436,729,000 after purchasing an additional 567,980 shares during the last quarter. Legal & General Group Plc lifted its holdings in General Motors by 0.7% in the 3rd quarter. Legal & General Group Plc now owns 7,828,786 shares of the auto manufacturer’s stock worth $316,139,000 after purchasing an additional 56,115 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in General Motors by 4.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,748,615 shares of the auto manufacturer’s stock worth $232,130,000 after purchasing an additional 251,273 shares during the last quarter. Institutional investors and hedge funds own 73.74% of the company’s stock.
Several equities research analysts recently weighed in on GM shares. Deutsche Bank restated a “buy” rating on shares of General Motors in a report on Friday, November 17th. Vetr lowered General Motors from a “buy” rating to a “hold” rating and set a $43.99 target price for the company. in a report on Monday, November 13th. Royal Bank of Canada upgraded General Motors from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $51.00 to $52.00 in a report on Tuesday, December 19th. Barclays restated a “buy” rating and issued a $61.00 target price on shares of General Motors in a report on Tuesday, January 9th. Finally, Evercore ISI boosted their target price on General Motors from $40.00 to $41.38 in a report on Friday, December 29th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $44.55.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.31. General Motors had a positive return on equity of 22.86% and a negative net margin of 2.58%. The company had revenue of $34.48 billion during the quarter, compared to analyst estimates of $34.28 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. equities research analysts anticipate that General Motors will post 6.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th 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 4.06%. The ex-dividend date of this dividend is Thursday, March 8th. General Motors’s dividend payout ratio is presently -52.59%.
In other news, CAO Thomas S. Timko sold 8,461 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $42.06, for a total transaction of $355,869.66. Following the sale, the chief accounting officer now directly owns 33,519 shares in the company, valued at $1,409,809.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark L. Reuss sold 165,944 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $41.85, for a total value of $6,944,756.40. Following the sale, the executive vice president now owns 369,878 shares in the company, valued at $15,479,394.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 378,252 shares of company stock worth $16,094,534. 0.04% of the stock is currently owned by company insiders.
General Motors 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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