Public Employees Retirement System of Ohio lowered its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 2.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 961,842 shares of the auto manufacturer’s stock after selling 23,163 shares during the period. Public Employees Retirement System of Ohio owned about 0.07% of General Motors worth $33,597,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Greenwood Gearhart Inc. raised its stake in shares of General Motors by 1.1% during the second quarter. Greenwood Gearhart Inc. now owns 180,182 shares of the auto manufacturer’s stock valued at $6,294,000 after acquiring an additional 2,047 shares during the last quarter. Sterneck Capital Management LLC raised its stake in shares of General Motors by 66.4% during the second quarter. Sterneck Capital Management LLC now owns 98,052 shares of the auto manufacturer’s stock valued at $3,425,000 after acquiring an additional 39,113 shares during the last quarter. Koch Industries Inc. bought a new position in shares of General Motors during the second quarter valued at $209,000. Westwood Holdings Group Inc. raised its stake in shares of General Motors by 99.6% during the second quarter. Westwood Holdings Group Inc. now owns 17,665 shares of the auto manufacturer’s stock valued at $617,000 after acquiring an additional 8,815 shares during the last quarter. Finally, Stellar Capital Management LLC raised its stake in shares of General Motors by 1.8% during the second quarter. Stellar Capital Management LLC now owns 47,139 shares of the auto manufacturer’s stock valued at $1,647,000 after acquiring an additional 814 shares during the last quarter. 72.22% of the stock is owned by hedge funds and other institutional investors.
Shares of General Motors Company (NYSE:GM) traded up 2.21% on Friday, hitting $45.88. 13,932,071 shares of the stock were exchanged. The company has a 50-day moving average price of $39.94 and a 200 day moving average price of $35.91. General Motors Company has a 12 month low of $30.21 and a 12 month high of $46.11. The company has a market cap of $66.86 billion, a PE ratio of 7.98 and a beta of 1.45.
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 for 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%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 EPS. Equities analysts forecast that General Motors Company will post $6.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Thursday, September 7th. General Motors’s dividend payout ratio is presently 26.48%.
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In other news, insider Alicia S. Boler-Davis sold 10,000 shares of the company’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Karl-Thomas Neumann sold 234,274 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $34.77, for a total transaction of $8,145,706.98. Following the completion of the sale, the insider now directly owns 234,274 shares in the company, valued at $8,145,706.98. The disclosure for this sale can be found here. Insiders sold a total of 852,901 shares of company stock worth $32,378,733 over the last ninety days. Insiders own 0.04% of the company’s stock.
GM has been the subject of several analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $44.00 price target on shares of General Motors in a research note on Tuesday, September 12th. BidaskClub downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Citigroup Inc. reaffirmed a “buy” rating and set a $53.00 price target on shares of General Motors in a research note on Monday, October 2nd. Berenberg Bank set a $31.00 price target on shares of General Motors and gave the company a “sell” rating in a research note on Monday, August 14th. Finally, Standpoint Research downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $42.50.
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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