Macquarie Group Ltd. Maintains Position in General Motors Co. (GM)
Macquarie Group Ltd. held its position in General Motors Co. (NYSE:GM) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 35,200 shares of the auto manufacturer’s stock at the end of the second quarter. Macquarie Group Ltd.’s holdings in General Motors were worth $996,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC purchased a new stake in shares of General Motors during the first quarter valued at $56,200,000. National Pension Service raised its position in shares of General Motors by 4.1% in the first quarter. National Pension Service now owns 823,356 shares of the auto manufacturer’s stock valued at $25,878,000 after buying an additional 32,253 shares in the last quarter. Natixis raised its position in shares of General Motors by 576.0% in the first quarter. Natixis now owns 2,515,846 shares of the auto manufacturer’s stock valued at $79,073,000 after buying an additional 2,143,679 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of General Motors by 6.5% in the second quarter. Acadian Asset Management LLC now owns 28,095 shares of the auto manufacturer’s stock valued at $795,000 after buying an additional 1,722 shares in the last quarter. Finally, Anchor Bolt Capital LP raised its position in shares of General Motors by 6.2% in the first quarter. Anchor Bolt Capital LP now owns 4,699,537 shares of the auto manufacturer’s stock valued at $147,706,000 after buying an additional 273,835 shares in the last quarter. 70.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Motors Co. (NYSE:GM) opened at 32.11 on Thursday. The company has a 50 day moving average price of $31.47 and a 200-day moving average price of $30.81. General Motors Co. has a 12-month low of $26.69 and a 12-month high of $36.88. The firm has a market cap of $50.15 billion, a PE ratio of 4.11 and a beta of 1.70.
General Motors (NYSE:GM) last posted its quarterly earnings data on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.35. General Motors had a net margin of 7.90% and a return on equity of 23.96%. The business had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.81 billion. During the same quarter last year, the business earned $1.29 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts expect that General Motors Co. will post $5.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be given a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.73%. General Motors’s dividend payout ratio (DPR) is 19.46%.
A number of research analysts have recently weighed in on GM shares. Piper Jaffray Cos. started coverage on General Motors in a report on Thursday, June 9th. They issued an “overweight” rating and a $41.00 price objective on the stock. Vetr lowered General Motors from a “strong-buy” rating to a “buy” rating and set a $35.06 target price on the stock. in a report on Monday, September 5th. Morgan Stanley raised General Motors from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $29.00 to $37.00 in a report on Monday. SunTrust Banks Inc. reiterated a “buy” rating and set a $28.00 price target on shares of General Motors in a research report on Monday, June 20th. Finally, Seaport Global Securities began coverage on General Motors in a research report on Tuesday, August 9th. They set a “buy” rating and a $42.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. General Motors presently has a consensus rating of “Hold” and an average target price of $35.62.
In other news, Director Jane L. Mendillo acquired 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was purchased at an average price of $31.01 per share, with a total value of $49,616.00. Following the purchase, the director now owns 1,600 shares of the company’s stock, valued at approximately $49,616. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas S. Timko sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total transaction of $199,625.00. Following the completion of the transaction, the vice president now directly owns 27,477 shares of the company’s stock, valued at approximately $877,615.38. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by company insiders.
General Motors Company Profile
General Motors Company (General Motors) designs, builds and sells cars, trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s four automotive segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA).
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