Brookstone Capital Management Lowers Holdings in General Motors Company (GM)
Brookstone Capital Management lowered its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 10.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 146,353 shares of the auto manufacturer’s stock after selling 16,583 shares during the quarter. Brookstone Capital Management’s holdings in General Motors were worth $5,910,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. YorkBridge Wealth Partners LLC lifted its position in General Motors by 43.5% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock worth $101,000 after acquiring an additional 860 shares during the period. Franklin Parlapiano Turner & Welch LLC acquired a new stake in General Motors during the 1st quarter worth about $106,000. FNY Managed Accounts LLC acquired a new stake in General Motors during the 1st quarter worth about $107,000. State of Alaska Department of Revenue lifted its position in General Motors by 10.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after acquiring an additional 310 shares during the period. Finally, Ffcm LLC lifted its position in General Motors by 2,008.1% during the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after acquiring an additional 3,213 shares during the period. 72.83% of the stock is owned by institutional investors.
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General Motors Company (NYSE:GM) traded down $0.26 during trading hours on Friday, reaching $42.34. The company’s stock had a trading volume of 9,800,780 shares, compared to its average volume of 14,532,651. The stock has a market cap of $60,140.07, a price-to-earnings ratio of 6.84, a P/E/G ratio of 0.73 and a beta of 1.56. General Motors Company has a 52 week low of $30.21 and a 52 week high of $46.76. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.25. The business had revenue of $30.48 billion for the quarter, compared to analysts’ expectations of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.72 EPS. analysts anticipate that General Motors Company will post 6.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, December 8th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Thursday, December 7th. General Motors’s dividend payout ratio is currently 77.95%.
GM has been the subject of a number of recent research reports. BidaskClub upgraded General Motors from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. ValuEngine upgraded General Motors from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Piper Jaffray Companies reiterated a “buy” rating and set a $44.00 price objective on shares of General Motors in a research note on Tuesday, September 12th. Royal Bank Of Canada reiterated a “hold” rating and set a $37.00 price objective on shares of General Motors in a research note on Friday, July 14th. Finally, Vetr lowered General Motors from a “buy” rating to a “hold” rating and set a $37.42 price objective for the company. in a research note on Monday, July 17th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $43.32.
In related news, Director Jane L. Mendillo bought 1,440 shares of the stock in a transaction dated Friday, August 18th. The shares were acquired at an average cost of $34.86 per share, for a total transaction of $50,198.40. Following the acquisition, the director now directly owns 4,560 shares in the company, valued at approximately $158,961.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alan S. Batey sold 8,144 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $35.57, for a total value of $289,682.08. Following the transaction, the insider now owns 66,748 shares in the company, valued at $2,374,226.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 979,266 shares of company stock worth $40,917,634. Insiders own 0.04% of the company’s stock.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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