General Motors Company (NYSE:GM) Position Lowered by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale reduced its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 7.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 663,955 shares of the auto manufacturer’s stock after selling 56,242 shares during the period. DekaBank Deutsche Girozentrale’s holdings in General Motors were worth $23,361,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. First Trust Advisors LP increased its stake in General Motors by 1.6% in the second quarter. First Trust Advisors LP now owns 968,894 shares of the auto manufacturer’s stock worth $33,843,000 after buying an additional 14,860 shares during the period. Arizona State Retirement System increased its stake in General Motors by 0.9% in the second quarter. Arizona State Retirement System now owns 340,600 shares of the auto manufacturer’s stock worth $11,897,000 after buying an additional 3,100 shares during the period. National Planning Corp increased its stake in General Motors by 61.8% in the second quarter. National Planning Corp now owns 24,486 shares of the auto manufacturer’s stock worth $871,000 after buying an additional 9,356 shares during the period. New Jersey Better Educational Savings Trust increased its stake in General Motors by 11.1% in the second quarter. New Jersey Better Educational Savings Trust now owns 20,000 shares of the auto manufacturer’s stock worth $699,000 after buying an additional 2,000 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in General Motors by 6.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 5,191,855 shares of the auto manufacturer’s stock worth $181,352,000 after buying an additional 331,832 shares during the period. 76.02% of the stock is owned by institutional investors and hedge funds.
General Motors Company (NYSE:GM) opened at 34.93 on Friday. The company has a 50 day moving average price of $35.37 and a 200 day moving average price of $35.14. The firm has a market cap of $50.90 billion, a PE ratio of 6.07 and a beta of 1.45. General Motors Company has a 1-year low of $30.13 and a 1-year high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $1.86 earnings per share. On average, equities research analysts forecast that General Motors Company will post $6.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s dividend payout ratio is currently 26.48%.
A number of research firms have issued reports on GM. UBS AG reissued a “buy” rating and set a $40.00 price target (up previously from $38.00) on shares of General Motors in a research report on Friday, April 14th. Zacks Investment Research raised General Motors from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Vetr raised General Motors to a “strong-buy” rating in a research report on Friday, June 9th. BidaskClub downgraded General Motors from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Bank of America Corporation reissued a “buy” rating and set a $40.00 price target (down previously from $44.00) on shares of General Motors in a research report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. General Motors currently has a consensus rating of “Hold” and a consensus price target of $39.26.
In other news, President Daniel Ammann sold 40,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $36.00, for a total value of $1,440,000.00. Following the sale, the president now directly owns 235,953 shares of the company’s stock, valued at $8,494,308. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charles K. Stevens III sold 16,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $35.80, for a total value of $572,800.00. Following the completion of the sale, the insider now directly owns 77,052 shares in the company, valued at $2,758,461.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 369,001 shares of company stock worth $12,827,204. 0.04% of the stock is currently owned by company insiders.
General Motors Company Profile
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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