New Mexico Educational Retirement Board Sells 10,500 Shares of General Motors Company (GM)
New Mexico Educational Retirement Board cut its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 7.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 127,700 shares of the auto manufacturer’s stock after selling 10,500 shares during the period. New Mexico Educational Retirement Board’s holdings in General Motors were worth $4,595,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Clearbridge Investments LLC boosted its stake in General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock worth $140,394,000 after buying an additional 3,955,426 shares in the last quarter. Prudential Financial Inc. boosted its stake in General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock worth $214,576,000 after buying an additional 3,420,200 shares in the last quarter. Vanguard Group Inc. boosted 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 worth $3,177,214,000 after buying an additional 2,744,821 shares in the last quarter. Alliancebernstein L.P. boosted its stake in General Motors by 87.0% in the first quarter. Alliancebernstein L.P. now owns 5,174,420 shares of the auto manufacturer’s stock worth $182,967,000 after buying an additional 2,407,818 shares in the last quarter. Finally, State Street Corp boosted 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 worth $2,136,563,000 after buying an additional 2,252,866 shares in the last quarter. Institutional investors own 76.02% of the company’s stock.
General Motors Company (NYSE GM) opened at 35.28 on Thursday. The company has a 50-day moving average price of $35.32 and a 200 day moving average price of $35.16. The firm has a market cap of $51.41 billion, a PE ratio of 6.13 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 unusually large options trading activity on Tuesday. Stock traders acquired 16,324 put options on the stock. This represents an increase of approximately 237% compared to the average volume of 4,840 put options.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The firm had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. General Motors’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.86 earnings per share. Equities research analysts anticipate that General Motors Company will post $6.14 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.31%. General Motors’s payout ratio is currently 26.48%.
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GM has been the topic of a number of analyst reports. Nomura restated a “buy” rating and issued a $47.00 price target on shares of General Motors in a research note on Tuesday, May 2nd. BidaskClub upgraded General Motors from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. BMO Capital Markets restated a “market perform” rating on shares of General Motors in a research note on Wednesday, May 3rd. CLSA initiated coverage on General Motors in a research note on Wednesday, June 21st. They issued a “hold” rating and a $37.00 price target on the stock. Finally, Morgan Stanley initiated coverage on General Motors in a research note on Wednesday, June 28th. They issued an “overweight” rating and a $40.00 price target on the stock. 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 issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $39.26.
In other General Motors news, insider Karl-Thomas Neumann sold 46,472 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $32.84, for a total value of $1,526,140.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charles K. Stevens III sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $35.80, for a total transaction of $572,800.00. Following the completion of the sale, the insider now owns 77,052 shares in the company, valued at approximately $2,758,461.60. The disclosure for this sale can be found here. Insiders sold 369,001 shares of company stock worth $12,827,204 in the last 90 days. 0.04% of the stock is 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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