Kavar Capital Partners LLC acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 950 shares of the auto manufacturer’s stock, valued at approximately $37,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Greenhaven Associates Inc. purchased a new stake in shares of General Motors in the first quarter worth about $754,274,000. BlackRock Inc. lifted its holdings in shares of General Motors by 6.7% in the first quarter. BlackRock Inc. now owns 83,427,385 shares of the auto manufacturer’s stock worth $3,095,158,000 after buying an additional 5,215,771 shares in the last quarter. FMR LLC lifted its holdings in shares of General Motors by 83.3% in the first quarter. FMR LLC now owns 8,016,745 shares of the auto manufacturer’s stock worth $297,421,000 after buying an additional 3,643,659 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of General Motors by 30.7% in the first quarter. OppenheimerFunds Inc. now owns 7,612,200 shares of the auto manufacturer’s stock worth $282,413,000 after buying an additional 1,786,037 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of General Motors in the first quarter worth about $58,053,000. 75.92% of the stock is currently owned by institutional investors and hedge funds.
In other General Motors news, President Mark L. Reuss sold 275,944 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the transaction, the president now directly owns 479,413 shares in the company, valued at $19,190,902.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.51% of the stock is owned by company insiders.
GM traded up $0.53 on Friday, reaching $37.00. The company had a trading volume of 7,165,600 shares, compared to its average volume of 8,012,465. The business has a 50 day simple moving average of $39.22 and a 200 day simple moving average of $38.22. The company has a market cap of $53.10 billion, a price-to-earnings ratio of 5.66, a P/E/G ratio of 0.61 and a beta of 1.39. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.83 and a current ratio of 0.96. General Motors has a 52-week low of $30.56 and a 52-week high of $41.90.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.21. The business had revenue of $36.06 billion for the quarter, compared to the consensus estimate of $36.03 billion. General Motors had a net margin of 6.31% and a return on equity of 21.08%. General Motors’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the firm posted $1.81 earnings per share. As a group, equities research analysts predict that General Motors will post 6.8 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend is Thursday, September 5th. General Motors’s payout ratio is currently 23.24%.
A number of equities research analysts have recently issued reports on GM shares. Nomura set a $38.00 price target on shares of General Motors and gave the stock a “hold” rating in a report on Wednesday, August 7th. Royal Bank of Canada increased their price target on shares of General Motors to $52.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. Citigroup increased their price target on shares of General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Evercore ISI set a $50.00 target price on shares of General Motors and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Credit Suisse Group began coverage on shares of General Motors in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. General Motors presently has a consensus rating of “Buy” and a consensus price target of $47.62.
General Motors Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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