Pathstone Family Office LLC boosted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 90.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 733 shares of the auto manufacturer’s stock after buying an additional 349 shares during the period. Pathstone Family Office LLC’s holdings in General Motors were worth $28,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in GM. BlackRock Inc. lifted its holdings in General Motors by 6.7% during the 1st quarter. BlackRock Inc. now owns 83,427,385 shares of the auto manufacturer’s stock valued at $3,095,158,000 after purchasing an additional 5,215,771 shares during the last quarter. FMR LLC raised its holdings in General Motors by 83.3% in the 1st quarter. FMR LLC now owns 8,016,745 shares of the auto manufacturer’s stock valued at $297,421,000 after buying an additional 3,643,659 shares during the last quarter. Korea Investment CORP raised its holdings in General Motors by 321.1% in the 2nd quarter. Korea Investment CORP now owns 4,302,991 shares of the auto manufacturer’s stock valued at $165,794,000 after buying an additional 3,281,200 shares during the last quarter. Holocene Advisors LP raised its holdings in General Motors by 319.2% in the 2nd quarter. Holocene Advisors LP now owns 3,461,357 shares of the auto manufacturer’s stock valued at $133,366,000 after buying an additional 2,635,687 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in General Motors by 30.7% in the 1st quarter. OppenheimerFunds Inc. now owns 7,612,200 shares of the auto manufacturer’s stock valued at $282,413,000 after buying an additional 1,786,037 shares during the last quarter. 76.80% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently commented on GM. ValuEngine lowered General Motors from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Morgan Stanley set a $46.00 target price on General Motors and gave the company a “buy” rating in a report on Monday, August 12th. Evercore ISI set a $50.00 target price on General Motors and gave the company a “buy” rating in a report on Wednesday, August 7th. Credit Suisse Group began coverage on General Motors in a report on Wednesday, June 26th. They set an “outperform” rating and a $48.00 target price for the company. Finally, Nomura set a $38.00 target price on General Motors and gave the company a “hold” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $46.58.
In related news, President Mark L. Reuss sold 275,944 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $40.03, for a total value of $11,046,038.32. Following the completion of 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 is available at this hyperlink. Also, EVP Matthew Tsien sold 83,067 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $39.50, for a total value of $3,281,146.50. Following the completion of the transaction, the executive vice president now owns 84,667 shares of the company’s stock, valued at $3,344,346.50. The disclosure for this sale can be found here. Insiders sold 375,944 shares of company stock valued at $14,996,038 over the last 90 days. Company insiders own 0.51% of the company’s stock.
GM stock opened at $38.20 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.96 and a quick ratio of 0.83. The business has a 50 day simple moving average of $38.25 and a 200-day simple moving average of $37.98. The firm has a market capitalization of $55.48 billion, a PE ratio of 5.84, a price-to-earnings-growth ratio of 0.64 and a beta of 1.42. General Motors has a 1 year low of $30.56 and a 1 year high of $41.90.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.21. The business had revenue of $36.06 billion during the quarter, compared to analyst estimates of $36.03 billion. General Motors had a return on equity of 21.08% and a net margin of 6.31%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.81 earnings per share. On average, equities research analysts expect that General Motors will post 6.8 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $0.38 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.98%. General Motors’s dividend payout ratio (DPR) is presently 23.24%.
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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