Whitener Capital Management Inc. increased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,591 shares of the auto manufacturer’s stock after purchasing an additional 725 shares during the quarter. Whitener Capital Management Inc.’s holdings in General Motors were worth $331,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in General Motors by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 16,309,521 shares of the auto manufacturer’s stock worth $544,715,000 after purchasing an additional 1,217,986 shares in the last quarter. Hollencrest Capital Management increased its holdings in General Motors by 2.0% in the 1st quarter. Hollencrest Capital Management now owns 25,295 shares of the auto manufacturer’s stock valued at $939,000 after buying an additional 496 shares during the period. Virtu Financial LLC bought a new position in General Motors in the 1st quarter valued at about $401,000. Raymond James Trust N.A. increased its holdings in General Motors by 44.4% in the 1st quarter. Raymond James Trust N.A. now owns 17,989 shares of the auto manufacturer’s stock valued at $668,000 after buying an additional 5,532 shares during the period. Finally, Strs Ohio increased its holdings in General Motors by 6.6% in the 1st quarter. Strs Ohio now owns 1,996,640 shares of the auto manufacturer’s stock valued at $74,075,000 after buying an additional 124,150 shares during the period. Hedge funds and other institutional investors own 75.92% of the company’s stock.
Several research firms have commented on GM. Royal Bank of Canada raised their target price on shares of General Motors to $52.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. Credit Suisse Group began coverage on shares of General Motors in a report on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 target price on the stock. Evercore ISI set a $50.00 target price on shares of General Motors and gave the company a “buy” rating in a report on Wednesday, August 7th. Citigroup raised their target price on shares of General Motors from $67.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Morgan Stanley set a $46.00 target price on shares of General Motors and gave the company a “buy” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $47.62.
GM stock traded up $0.53 during mid-day trading on Friday, hitting $37.00. The stock had a trading volume of 7,165,600 shares, compared to its average volume of 8,012,465. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 1.56. General Motors has a 52 week low of $30.56 and a 52 week high of $41.90. The firm has a market capitalization of $53.10 billion, a P/E ratio of 5.66, a P/E/G ratio of 0.61 and a beta of 1.39. The firm has a fifty day simple moving average of $39.22 and a 200 day simple moving average of $38.22.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.21. The company had revenue of $36.06 billion for the quarter, compared to analyst estimates of $36.03 billion. General Motors had a net margin of 6.31% and a return on equity of 21.08%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 EPS. As a group, equities analysts expect that General Motors will post 6.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Thursday, September 5th. General Motors’s dividend payout ratio (DPR) is presently 23.24%.
In related news, President Mark L. Reuss sold 275,944 shares of General Motors 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 sale, the president now directly owns 479,413 shares of the company’s stock, valued at approximately $19,190,902.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.51% of the company’s stock.
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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