Oppenheimer Asset Management Inc. trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.4% during the first quarter, Holdings Channel reports. The fund owned 834,756 shares of the auto manufacturer’s stock after selling 38,129 shares during the quarter. General Motors accounts for 0.8% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 16th largest holding. Oppenheimer Asset Management Inc.’s holdings in General Motors were worth $30,335,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Rathbone Brothers plc increased its holdings in General Motors by 22.7% in the fourth quarter. Rathbone Brothers plc now owns 7,560 shares of the auto manufacturer’s stock valued at $310,000 after buying an additional 1,400 shares during the last quarter. Camelot Portfolios LLC grew its holdings in shares of General Motors by 14.0% during the fourth quarter. Camelot Portfolios LLC now owns 11,923 shares of the auto manufacturer’s stock valued at $489,000 after purchasing an additional 1,468 shares during the last quarter. Financial Gravity Companies Inc. grew its holdings in shares of General Motors by 35.6% during the first quarter. Financial Gravity Companies Inc. now owns 5,721 shares of the auto manufacturer’s stock valued at $207,000 after purchasing an additional 1,501 shares during the last quarter. Wayne Hummer Investments L.L.C. grew its holdings in shares of General Motors by 4.3% during the first quarter. Wayne Hummer Investments L.L.C. now owns 36,652 shares of the auto manufacturer’s stock valued at $1,332,000 after purchasing an additional 1,526 shares during the last quarter. Finally, Princeton Capital Management LLC grew its holdings in shares of General Motors by 25.2% during the first quarter. Princeton Capital Management LLC now owns 7,652 shares of the auto manufacturer’s stock valued at $278,000 after purchasing an additional 1,540 shares during the last quarter. 73.09% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on GM shares. Barclays reaffirmed a “buy” rating and set a $60.00 target price on shares of General Motors in a report on Sunday, January 21st. Vetr raised General Motors from a “strong sell” rating to a “sell” rating and set a $40.24 target price for the company in a report on Friday, January 26th. Goldman Sachs set a $33.00 target price on General Motors and gave the company a “sell” rating in a report on Tuesday, February 6th. Royal Bank of Canada set a $52.00 target price on General Motors and gave the company a “buy” rating in a report on Tuesday, February 6th. Finally, Berenberg Bank set a $34.00 target price on General Motors and gave the company a “sell” rating in a report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $45.43.
Shares of NYSE GM opened at $37.79 on Monday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.73. The company has a market cap of $53.26 billion, a PE ratio of 5.71, a price-to-earnings-growth ratio of 1.08 and a beta of 1.61. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Thursday, April 26th. The auto manufacturer reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.19. The firm had revenue of $36.10 billion during the quarter, compared to the consensus estimate of $34.67 billion. General Motors had a positive return on equity of 23.03% and a negative net margin of 3.76%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.70 earnings per share. analysts predict that General Motors will post 6.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 22nd. Shareholders of record on Friday, June 8th will be given a $0.38 dividend. The ex-dividend date is Thursday, June 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.02%. General Motors’s dividend payout ratio (DPR) is 22.96%.
In other General Motors news, insider Charles K. Stevens III sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $36.10, for a total value of $1,263,500.00. Following the completion of the sale, the insider now directly owns 67,741 shares in the company, valued at $2,445,450.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Retiree Medical Benefits T. Uaw sold 40,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $39.71, for a total value of $1,588,400,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.
General Motors Company 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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