General Motors (GM) Shares Sold by Bp Plc
Bp Plc lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 140,000 shares of the auto manufacturer’s stock after selling 17,000 shares during the quarter. Bp Plc’s holdings in General Motors were worth $4,682,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in General Motors by 20.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,355,956 shares of the auto manufacturer’s stock valued at $565,624,000 after purchasing an additional 2,394,922 shares during the period. Deprince Race & Zollo Inc. raised its stake in General Motors by 25.3% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 558,506 shares of the auto manufacturer’s stock valued at $18,805,000 after purchasing an additional 112,899 shares during the period. First Hawaiian Bank bought a new stake in General Motors during the 3rd quarter valued at approximately $290,000. Eidelman Virant Capital bought a new stake in General Motors during the 3rd quarter valued at approximately $686,000. Finally, Canal Capital Management LLC raised its stake in General Motors by 11.2% during the 3rd quarter. Canal Capital Management LLC now owns 64,537 shares of the auto manufacturer’s stock valued at $2,173,000 after purchasing an additional 6,516 shares during the period. Institutional investors and hedge funds own 77.74% of the company’s stock.
A number of research firms have issued reports on GM. Zacks Investment Research downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Royal Bank of Canada lifted their price objective on General Motors from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, February 7th. Seaport Global Securities began coverage on General Motors in a research note on Wednesday. They issued a “buy” rating on the stock. Citigroup lifted their price objective on General Motors to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 8th. Finally, ValuEngine raised General Motors from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. General Motors has a consensus rating of “Buy” and an average target price of $46.97.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Wednesday, February 6th. The auto manufacturer reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.22. The firm had revenue of $38.40 billion during the quarter, compared to analysts’ expectations of $36.31 billion. General Motors had a return on equity of 23.99% and a net margin of 5.45%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 EPS. As a group, research analysts forecast that General Motors will post 6.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Thursday, March 7th. General Motors’s dividend payout ratio (DPR) is 23.24%.
In other news, insider Alan S. Batey sold 70,266 shares of General Motors stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $38.39, for a total value of $2,697,511.74. Following the completion of the transaction, the insider now owns 205,906 shares in the company, valued at approximately $7,904,731.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.39% of the stock is currently owned by insiders.
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General Motors 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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