State of Wisconsin Investment Board Acquires 258,100 Shares of General Motors Company (GM)
State of Wisconsin Investment Board raised its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 22.3% during the second quarter, Holdings Channel reports. The institutional investor owned 1,415,877 shares of the auto manufacturer’s stock after buying an additional 258,100 shares during the period. State of Wisconsin Investment Board’s holdings in General Motors were worth $49,457,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GM. State of Alaska Department of Revenue acquired a new position in General Motors during the first quarter worth $103,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in General Motors during the first quarter worth $106,000. FNY Managed Accounts LLC acquired a new position in General Motors during the first quarter worth $107,000. SRS Capital Advisors Inc. increased its position in shares of General Motors by 171.9% in the first quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the auto manufacturer’s stock valued at $182,000 after buying an additional 3,262 shares during the period. Finally, North Star Investment Management Corp. increased its position in shares of General Motors by 0.8% in the first quarter. North Star Investment Management Corp. now owns 5,215 shares of the auto manufacturer’s stock valued at $184,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 75.56% of the company’s stock.
Shares of General Motors Company (NYSE GM) opened at 35.47 on Tuesday. General Motors Company has a 12 month low of $30.13 and a 12 month high of $38.55. The stock’s 50 day moving average is $35.40 and its 200 day moving average is $35.09. The firm has a market capitalization of $51.69 billion, a price-to-earnings ratio of 6.17 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. During the same period last year, the firm earned $1.86 earnings per share. General Motors’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts forecast that General Motors Company will post $6.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio is 26.48%.
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Several research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of General Motors in a report on Tuesday, June 13th. They issued a “market perform” rating and a $33.00 target price on the stock. Zacks Investment Research downgraded shares of General Motors from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. BidaskClub downgraded shares of General Motors from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Guggenheim assumed coverage on shares of General Motors in a report on Wednesday, June 21st. They issued a “neutral” rating and a $37.00 target price on the stock. Finally, Vetr downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $37.42 target price on the stock. in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $39.26.
In other news, Director Patricia F. Russo bought 10,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were purchased at an average cost of $34.73 per share, with a total value of $347,300.00. Following the acquisition, the director now directly owns 12,300 shares in the company, valued at $427,179. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Daniel Ammann sold 40,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $36.00, for a total transaction of $1,440,000.00. Following the completion of the transaction, the president now directly owns 235,953 shares in the company, valued at $8,494,308. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 369,001 shares of company stock worth $12,827,204. 0.04% of the stock is owned by insiders.
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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