Macquarie Group Ltd. Acquires 7,800 Shares of General Motors Company (GM)
Macquarie Group Ltd. increased its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 11.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,000 shares of the auto manufacturer’s stock after purchasing an additional 7,800 shares during the quarter. Macquarie Group Ltd.’s holdings in General Motors were worth $2,759,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in General Motors by 4.0% during the second quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock worth $3,262,952,000 after purchasing an additional 3,560,717 shares during the last quarter. BlackRock Inc. boosted its holdings in General Motors by 1.1% during the second quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock worth $2,750,849,000 after purchasing an additional 850,211 shares during the last quarter. State Street Corp boosted its holdings in General Motors by 3.9% during the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock worth $2,136,563,000 after purchasing an additional 2,252,866 shares during the last quarter. Capital World Investors boosted its holdings in General Motors by 5.0% during the second quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock worth $1,094,259,000 after purchasing an additional 1,500,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in General Motors by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,568,438 shares of the auto manufacturer’s stock worth $508,880,000 after purchasing an additional 59,774 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.
A number of brokerages have commented on GM. BidaskClub cut shares of General Motors from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Vetr upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $37.42 price target for the company in a research note on Monday, July 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $44.00 price target on shares of General Motors in a research note on Wednesday, July 12th. Deutsche Bank AG upgraded shares of General Motors from a “hold” rating to a “buy” rating and increased their price target for the company from $36.00 to $51.00 in a research note on Monday, September 25th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $53.00 price target on shares of General Motors in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $42.50.
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In other news, VP Thomas S. Timko sold 17,255 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $35.79, for a total value of $617,556.45. Following the sale, the vice president now directly owns 26,100 shares of the company’s stock, valued at $934,119. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alan S. Batey sold 8,144 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $35.57, for a total transaction of $289,682.08. Following the completion of the sale, the insider now directly 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 three months, insiders sold 852,901 shares of company stock worth $32,378,733. Insiders own 0.04% of the company’s stock.
General Motors Company (NYSE GM) opened at 45.61 on Friday. General Motors Company has a 12-month low of $30.21 and a 12-month high of $46.11. The firm has a 50-day moving average of $41.31 and a 200 day moving average of $36.27. The company has a market capitalization of $66.46 billion, a price-to-earnings ratio of 7.93 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The business had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 earnings per share. Analysts expect that General Motors Company will post $6.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Thursday, September 7th. General Motors’s payout ratio is 26.48%.
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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