Westpac Banking Corp trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,833 shares of the auto manufacturer’s stock after selling 11,302 shares during the quarter. Westpac Banking Corp’s holdings in General Motors were worth $3,395,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Peapack Gladstone Financial Corp grew its stake in shares of General Motors by 2.7% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 6,428 shares of the auto manufacturer’s stock worth $225,000 after acquiring an additional 166 shares during the period. Veritable L.P. grew its stake in shares of General Motors by 1.0% during the 2nd quarter. Veritable L.P. now owns 61,892 shares of the auto manufacturer’s stock worth $2,162,000 after acquiring an additional 619 shares during the period. Capstone Investment Advisors Netherlands B.V. grew its stake in shares of General Motors by 11.2% during the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,713 shares of the auto manufacturer’s stock worth $234,000 after acquiring an additional 674 shares during the period. Carret Asset Management LLC grew its stake in shares of General Motors by 0.8% during the 2nd quarter. Carret Asset Management LLC now owns 89,556 shares of the auto manufacturer’s stock worth $3,128,000 after acquiring an additional 676 shares during the period. Finally, Waters Parkerson & CO. LLC grew its stake in shares of General Motors by 7.4% during the 2nd quarter. Waters Parkerson & CO. LLC now owns 10,909 shares of the auto manufacturer’s stock worth $381,000 after acquiring an additional 750 shares during the period. 73.38% of the stock is currently owned by institutional investors.
General Motors (NYSE:GM) traded up $0.41 on Wednesday, reaching $41.81. The company had a trading volume of 10,269,495 shares, compared to its average volume of 14,460,000. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 1.86. General Motors has a fifty-two week low of $31.92 and a fifty-two week high of $46.76. The company has a market cap of $59,390.00, a price-to-earnings ratio of 8.12, a price-to-earnings-growth ratio of 0.67 and a beta of 1.59.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.31. The business had revenue of $34.48 billion for the quarter, compared to analyst estimates of $34.28 billion. General Motors had a positive return on equity of 22.86% and a negative net margin of 2.58%. General Motors’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.28 EPS. equities research analysts anticipate that General Motors will post 6.25 EPS for the current fiscal year.
The firm 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 $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.64%. General Motors’s dividend payout ratio is currently 29.51%.
In other news, insider Mark L. Reuss sold 30,000 shares of General Motors stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $43.09, for a total value of $1,292,700.00. Following the sale, the insider now directly owns 103,052 shares in the company, valued at approximately $4,440,510.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Barry L. Engle II sold 50,443 shares of General Motors stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $43.08, for a total value of $2,173,084.44. Following the completion of the sale, the insider now owns 57,091 shares in the company, valued at $2,459,480.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 203,847 shares of company stock worth $8,793,908. Corporate insiders own 0.04% of the company’s stock.
A number of brokerages recently issued reports on GM. Deutsche Bank reissued a “buy” rating on shares of General Motors in a report on Friday, November 17th. Vetr cut General Motors from a “buy” rating to a “hold” rating and set a $43.99 price objective on the stock. in a report on Monday, November 13th. Royal Bank of Canada increased their price objective on General Motors from $44.00 to $51.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 25th. BMO Capital Markets raised General Motors to a “market perform” rating and increased their price objective for the stock from $41.00 to $48.00 in a report on Wednesday, October 25th. Finally, Barclays reissued a “buy” rating and set a $61.00 price objective on shares of General Motors in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $44.44.
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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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