TLP Group LLC raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 85.4% during the first quarter, HoldingsChannel reports. The firm owned 13,954 shares of the auto manufacturer’s stock after purchasing an additional 6,428 shares during the quarter. General Motors accounts for about 0.3% of TLP Group LLC’s portfolio, making the stock its 24th largest position. TLP Group LLC’s holdings in General Motors were worth $507,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of General Motors by 26.7% in the 4th quarter. Franklin Resources Inc. now owns 21,868,641 shares of the auto manufacturer’s stock valued at $896,398,000 after acquiring an additional 4,611,023 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of General Motors by 154.4% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,923,200 shares of the auto manufacturer’s stock valued at $242,792,000 after acquiring an additional 3,594,700 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of General Motors by 171.3% in the 4th quarter. Renaissance Technologies LLC now owns 5,310,000 shares of the auto manufacturer’s stock valued at $217,657,000 after acquiring an additional 3,352,900 shares during the last quarter. Millennium Management LLC increased its holdings in shares of General Motors by 78.1% in the 4th quarter. Millennium Management LLC now owns 6,810,691 shares of the auto manufacturer’s stock valued at $279,170,000 after acquiring an additional 2,986,293 shares during the last quarter. Finally, Levin Capital Strategies L.P. increased its holdings in shares of General Motors by 123.4% in the 4th quarter. Levin Capital Strategies L.P. now owns 3,440,444 shares of the auto manufacturer’s stock valued at $141,024,000 after acquiring an additional 1,900,236 shares during the last quarter. 73.43% of the stock is currently owned by institutional investors.
Shares of General Motors traded down $0.36, hitting $44.09, during midday trading on Thursday, Marketbeat.com reports. The company had a trading volume of 77,373 shares, compared to its average volume of 12,563,243. General Motors has a 52-week low of $33.86 and a 52-week high of $46.76. The company has a market capitalization of $63.21 billion, a P/E ratio of 6.65, a price-to-earnings-growth ratio of 1.27 and a beta of 1.63. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 1.96.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Thursday, April 26th. The auto manufacturer reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.19. General Motors had a positive return on equity of 23.03% and a negative net margin of 3.76%. The company had revenue of $36.10 billion for the quarter, compared to the consensus estimate of $34.67 billion. During the same period last year, the business posted $1.70 EPS. The company’s revenue was down 12.4% on a year-over-year basis. equities analysts predict that General Motors will post 6.44 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 22nd. Shareholders of record on Friday, June 8th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.45%. General Motors’s dividend payout ratio (DPR) is currently 22.96%.
A number of research analysts have recently commented on the company. ValuEngine upgraded General Motors from a “hold” rating to a “buy” rating in a report on Friday, June 1st. Morgan Stanley raised their price target on General Motors from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 5th. They noted that the move was a valuation call. Evercore ISI upgraded General Motors from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $47.00 to $50.00 in a research note on Thursday, May 31st. JPMorgan Chase & Co. restated an “overweight” rating and set a $58.00 price target on shares of General Motors in a research note on Friday, June 1st. Finally, Zacks Investment Research upgraded General Motors from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Wednesday, May 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $46.75.
In other news, EVP Alan S. Batey sold 215,685 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $43.01, for a total value of $9,276,611.85. Following the completion of the sale, the executive vice president now directly owns 84,594 shares of the company’s stock, valued at approximately $3,638,387.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles K. Stevens III sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were 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 of the company’s stock, valued at $2,445,450.10. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.
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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