Gamco Investors INC. ET AL lowered its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 15.6% in the second quarter, Holdings Channel reports. The fund owned 89,790 shares of the auto manufacturer’s stock after selling 16,640 shares during the quarter. Gamco Investors INC. ET AL’s holdings in General Motors were worth $3,538,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GM. Reliance Trust Co. of Delaware increased its stake in shares of General Motors by 17.5% in the second quarter. Reliance Trust Co. of Delaware now owns 9,679 shares of the auto manufacturer’s stock valued at $382,000 after buying an additional 1,439 shares during the period. BKD Wealth Advisors LLC increased its stake in shares of General Motors by 1.9% in the first quarter. BKD Wealth Advisors LLC now owns 78,623 shares of the auto manufacturer’s stock valued at $2,857,000 after buying an additional 1,445 shares during the period. Stellar Capital Management LLC increased its stake in shares of General Motors by 3.1% in the second quarter. Stellar Capital Management LLC now owns 52,472 shares of the auto manufacturer’s stock valued at $2,067,000 after buying an additional 1,555 shares during the period. NEXT Financial Group Inc increased its stake in shares of General Motors by 9.4% in the first quarter. NEXT Financial Group Inc now owns 19,145 shares of the auto manufacturer’s stock valued at $696,000 after buying an additional 1,647 shares during the period. Finally, Affiance Financial LLC increased its stake in shares of General Motors by 11.6% in the second quarter. Affiance Financial LLC now owns 16,270 shares of the auto manufacturer’s stock valued at $641,000 after buying an additional 1,693 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

Shares of GM opened at $35.60 on Wednesday. General Motors has a 12-month low of $34.50 and a 12-month high of $46.76. The company has a current ratio of 0.88, a quick ratio of 0.74 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $50.86 billion, a P/E ratio of 5.81, a PEG ratio of 0.74 and a beta of 1.56.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Wednesday, July 25th. The auto manufacturer reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.03. General Motors had a positive return on equity of 23.39% and a negative net margin of 3.26%. The company had revenue of $36.80 billion for the quarter, compared to analysts’ expectations of $36.62 billion. During the same period last year, the business earned $1.89 EPS. General Motors’s quarterly revenue was down .5% compared to the same quarter last year. sell-side analysts forecast that General Motors will post 5.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Friday, September 7th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Thursday, September 6th. General Motors’s dividend payout ratio is currently 22.96%.

A number of research firms have weighed in on GM. ValuEngine downgraded shares of General Motors from a “hold” rating to a “sell” rating in a research report on Tuesday. Morgan Stanley decreased their target price on shares of General Motors from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, August 17th. JPMorgan Chase & Co. decreased their target price on shares of General Motors from $58.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, July 27th. Jefferies Financial Group reissued a “hold” rating and set a $39.00 target price on shares of General Motors in a research report on Friday, July 27th. Finally, Buckingham Research decreased their target price on shares of General Motors from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $47.02.

General Motors Company Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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