Stoneridge Investment Partners LLC Sells 3,350 Shares of General Motors Co. (GM)
Stoneridge Investment Partners LLC decreased its stake in shares of General Motors Co. (NYSE:GM) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 285,486 shares of the auto manufacturer’s stock after selling 3,350 shares during the period. General Motors makes up about 1.2% of Stoneridge Investment Partners LLC’s investment portfolio, making the stock its 13th largest position. Stoneridge Investment Partners LLC’s holdings in General Motors were worth $8,079,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of GM. Alpha Windward LLC raised its position in shares of General Motors by 15.4% in the first quarter. Alpha Windward LLC now owns 14,836 shares of the auto manufacturer’s stock valued at $466,000 after buying an additional 1,980 shares in the last quarter. BLB&B Advisors LLC raised its position in shares of General Motors by 17.1% in the first quarter. BLB&B Advisors LLC now owns 14,712 shares of the auto manufacturer’s stock valued at $462,000 after buying an additional 2,150 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of General Motors by 12.0% in the first quarter. Fisher Asset Management LLC now owns 19,111 shares of the auto manufacturer’s stock valued at $584,000 after buying an additional 2,053 shares in the last quarter. Pecaut & CO. raised its stake in General Motors by 1.3% in the first quarter. Pecaut & CO. now owns 53,600 shares of the auto manufacturer’s stock valued at $1,685,000 after buying an additional 700 shares in the last quarter. Finally, First Financial Corp IN raised its stake in General Motors by 7.9% in the first quarter. First Financial Corp IN now owns 18,349 shares of the auto manufacturer’s stock valued at $577,000 after buying an additional 1,340 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.
General Motors Co. (NYSE:GM) traded down 0.22% during trading on Tuesday, reaching $31.65. The company’s stock had a trading volume of 12,876,202 shares. The stock’s 50-day moving average is $31.40 and its 200 day moving average is $30.80. General Motors Co. has a 12 month low of $26.69 and a 12 month high of $36.88. The company has a market cap of $49.43 billion, a P/E ratio of 4.05 and a beta of 1.70.
General Motors (NYSE:GM) last released its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.35. The business had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.81 billion. General Motors had a net margin of 7.90% and a return on equity of 23.96%. General Motors’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share. On average, equities analysts forecast that General Motors Co. will post $5.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.80%. General Motors’s payout ratio is 19.46%.
Several research firms have recently weighed in on GM. Piper Jaffray Cos. began coverage on General Motors in a research note 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 price objective on the stock. in a research note on Monday, September 5th. Morgan Stanley upgraded General Motors from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $29.00 to $37.00 in a research note on Monday. SunTrust Banks Inc. reiterated a “buy” rating and issued a $28.00 price objective on shares of General Motors in a research note on Monday, June 20th. Finally, Seaport Global Securities began coverage on General Motors in a research note on Tuesday, August 9th. They issued a “buy” rating and a $42.00 price objective on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. General Motors has a consensus rating of “Hold” and a consensus price target of $35.62.
In related news, Director Jane L. Mendillo purchased 1,600 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was purchased at an average cost of $31.01 per share, with a total value of $49,616.00. Following the completion of the purchase, the director now owns 1,600 shares in the company, valued at approximately $49,616. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas S. Timko sold 6,250 shares of General Motors stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $31.94, for a total transaction of $199,625.00. Following the completion of the sale, the vice president now directly owns 27,477 shares of the company’s stock, valued at $877,615.38. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by corporate 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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