Harel Insurance Investments & Financial Services Ltd. Sells 371,198 Shares of General Motors Company (NYSE:GM)
Harel Insurance Investments & Financial Services Ltd. cut its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 97.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,159 shares of the auto manufacturer’s stock after selling 371,198 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in General Motors were worth $320,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in General Motors by 3.2% in the first quarter. Vanguard Group Inc. now owns 89,853,324 shares of the auto manufacturer’s stock valued at $3,177,214,000 after buying an additional 2,744,821 shares during the period. State Street Corp raised its stake in General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after buying an additional 2,252,866 shares during the period. Dimensional Fund Advisors LP raised its stake in General Motors by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 14,508,664 shares of the auto manufacturer’s stock valued at $513,021,000 after buying an additional 284,693 shares during the period. Geode Capital Management LLC raised its stake in General Motors by 9.9% in the first quarter. Geode Capital Management LLC now owns 14,071,387 shares of the auto manufacturer’s stock valued at $496,891,000 after buying an additional 1,266,564 shares during the period. Finally, Legal & General Group Plc raised its stake in General Motors by 3.3% in the first quarter. Legal & General Group Plc now owns 7,618,441 shares of the auto manufacturer’s stock valued at $269,387,000 after buying an additional 246,770 shares during the period. Hedge funds and other institutional investors own 76.02% of the company’s stock.
Shares of General Motors Company (NYSE GM) opened at 34.88 on Friday. The firm has a 50-day moving average price of $35.35 and a 200-day moving average price of $35.16. The company has a market capitalization of $50.83 billion, a PE ratio of 6.06 and a beta of 1.45. General Motors Company has a 12 month low of $30.13 and a 12 month high of $38.55. General Motors also was the recipient of some unusual options trading on Tuesday. Investors acquired 16,324 put options on the stock. This is an increase of 237% compared to the average daily volume of 4,840 put options.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The firm had revenue of $36.98 billion during the quarter, compared to analysts’ expectations of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.86 EPS. On average, equities research analysts predict that General Motors Company will post $6.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a $0.38 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.36%. General Motors’s dividend payout ratio is presently 26.48%.
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Several equities research analysts recently weighed in on GM shares. BidaskClub lowered General Motors from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. BMO Capital Markets restated a “market perform” rating on shares of General Motors in a report on Wednesday, May 3rd. Vetr upgraded General Motors from a “hold” rating to a “buy” rating and set a $37.42 target price for the company in a report on Monday, July 24th. Royal Bank Of Canada reiterated a “hold” rating and set a $37.00 price target on shares of General Motors in a report on Friday, July 14th. Finally, Buckingham Research reiterated a “neutral” rating on shares of General Motors in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. General Motors presently has an average rating of “Hold” and an average price target of $39.26.
In related news, Director Jane L. Mendillo acquired 1,520 shares of the company’s stock in a transaction on Friday, May 26th. The stock was purchased at an average cost of $32.92 per share, with a total value of $50,038.40. Following the acquisition, the director now directly owns 3,120 shares of the company’s stock, valued at $102,710.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Patricia F. Russo acquired 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was bought at an average cost of $34.73 per share, with a total value of $347,300.00. Following the completion of the acquisition, the director now directly owns 12,300 shares in the company, valued at $427,179. The disclosure for this purchase can be found here. Insiders sold a total of 369,001 shares of company stock valued at $12,827,204 over the last ninety days. 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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