LS Investment Advisors LLC lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 8.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 59,207 shares of the auto manufacturer’s stock after buying an additional 4,716 shares during the quarter. LS Investment Advisors LLC’s holdings in General Motors were worth $2,152,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Stevens Capital Management LP purchased a new stake in shares of General Motors during the first quarter worth about $12,015,000. Thrivent Financial for Lutherans grew its holdings in shares of General Motors by 80.4% during the first quarter. Thrivent Financial for Lutherans now owns 210,165 shares of the auto manufacturer’s stock worth $7,638,000 after buying an additional 93,661 shares in the last quarter. Sawtooth Solutions LLC purchased a new stake in shares of General Motors during the first quarter worth about $522,000. Strategic Wealth Advisors Group LLC purchased a new stake in General Motors in the first quarter valued at approximately $811,000. Finally, American International Group Inc. grew its holdings in General Motors by 17.9% in the first quarter. American International Group Inc. now owns 484,345 shares of the auto manufacturer’s stock valued at $17,601,000 after purchasing an additional 73,386 shares during the period. Institutional investors and hedge funds own 73.10% of the company’s stock.
In other news, CAO Thomas S. Timko sold 8,461 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $42.06, for a total transaction of $355,869.66. Following the transaction, the chief accounting officer now directly owns 33,519 shares of the company’s stock, valued at $1,409,809.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charles K. Stevens III sold 35,000 shares of the business’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $36.10, for a total transaction of $1,263,500.00. Following the transaction, the insider now directly owns 67,741 shares in the company, valued at $2,445,450.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,209,405 shares of company stock worth $1,596,964,126. Corporate insiders own 0.04% of the company’s stock.
GM opened at $36.63 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. General Motors has a 52-week low of $36.61 and a 52-week high of $37.05. The company has a market cap of $51.99 billion, a price-to-earnings ratio of 5.53, a price-to-earnings-growth ratio of 1.05 and a beta of 1.61.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Thursday, April 26th. The auto manufacturer reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.19. General Motors had a negative net margin of 3.76% and a positive return on equity of 23.03%. The company had revenue of $36.10 billion during the quarter, compared to the consensus estimate of $34.67 billion. During the same period in the previous year, the firm earned $1.70 earnings per share. General Motors’s revenue for the quarter was down 12.4% on a year-over-year basis. research analysts predict that General Motors will post 6.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 8th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, June 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.15%. General Motors’s payout ratio is currently 22.96%.
A number of equities research analysts recently issued reports on GM shares. Citigroup restated a “hold” rating and issued a $70.00 target price on shares of General Motors in a report on Friday, April 27th. JPMorgan Chase restated an “overweight” rating and issued a $55.00 target price (down from $56.00) on shares of General Motors in a report on Tuesday, March 13th. ValuEngine downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Piper Jaffray set a $57.00 target price on shares of General Motors and gave the company a “buy” rating in a report on Tuesday. Finally, Vetr upgraded shares of General Motors from a “hold” rating to a “strong-buy” rating and set a $42.79 target price for the company in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.43.
General Motors Profile
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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