Zurcher Kantonalbank Zurich Cantonalbank Decreases Stake in General Motors Company (GM)
Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 325,464 shares of the auto manufacturer’s stock after selling 23,861 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in General Motors were worth $11,368,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Intrust Bank NA increased its stake in shares of General Motors by 0.3% in the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock valued at $250,000 after buying an additional 25 shares during the period. North Star Investment Management Corp. increased its stake 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. IFC Holdings Incorporated FL increased its stake in shares of General Motors by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock valued at $1,120,000 after buying an additional 88 shares during the period. Spectrum Asset Management Inc. NB CA increased its stake in shares of General Motors by 1.5% in the first quarter. Spectrum Asset Management Inc. NB CA now owns 6,850 shares of the auto manufacturer’s stock valued at $242,000 after buying an additional 100 shares during the period. Finally, Rehmann Capital Advisory Group increased its stake in shares of General Motors by 1.8% in the second quarter. Rehmann Capital Advisory Group now owns 6,583 shares of the auto manufacturer’s stock valued at $230,000 after buying an additional 115 shares during the period. 72.20% of the stock is currently owned by institutional investors.
General Motors Company (NYSE GM) opened at 35.52 on Wednesday. The firm has a 50-day moving average of $35.51 and a 200-day moving average of $35.04. General Motors Company has a one year low of $30.13 and a one year high of $38.55. The stock has a market capitalization of $51.76 billion, a PE ratio of 6.18 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, beating the 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 net margin of 5.38% and a return on equity of 22.45%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.86 EPS. On average, equities research analysts forecast that General Motors Company will post $6.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio (DPR) is presently 26.48%.
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Several brokerages have recently weighed in on GM. Buckingham Research reiterated a “hold” rating on shares of General Motors in a research note on Thursday, August 24th. BidaskClub upgraded shares of General Motors from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Berenberg Bank set a $31.00 target price on shares of General Motors and gave the stock a “sell” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Vetr downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $37.42 target price for the company. in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $39.26.
In other General Motors news, Director Patricia F. Russo bought 10,000 shares of General Motors stock in a transaction dated Tuesday, August 1st. The shares were bought at an average price of $34.73 per share, with a total value of $347,300.00. Following the purchase, the director now owns 12,300 shares of the company’s stock, valued at $427,179. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alan S. Batey sold 8,144 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $35.57, for a total transaction of $289,682.08. Following the completion of the transaction, the insider now directly owns 66,748 shares in the company, valued at approximately $2,374,226.36. The disclosure for this sale can be found here. Insiders sold a total of 330,673 shares of company stock worth $11,590,746 in 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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