Cadence Capital Management LLC lowered its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 23.7% during the first quarter, Holdings Channel reports. The firm owned 185,203 shares of the auto manufacturer’s stock after selling 57,402 shares during the period. Cadence Capital Management LLC’s holdings in General Motors Company were worth $6,549,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in GM. Envestnet Asset Management Inc. boosted its position in General Motors Company by 13.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 270,018 shares of the auto manufacturer’s stock valued at $9,406,000 after buying an additional 32,702 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in General Motors Company during the fourth quarter valued at $1,251,000. Menta Capital LLC acquired a new position in General Motors Company during the fourth quarter valued at $1,777,000. Bristol Advisors LLC acquired a new position in General Motors Company during the fourth quarter valued at $603,000. Finally, Folger Hill Asset Management LP acquired a new position in General Motors Company during the fourth quarter valued at $242,000. Institutional investors and hedge funds own 74.70% of the company’s stock.
General Motors Company (NYSE GM) opened at 34.20 on Friday. The company’s 50 day moving average price is $33.80 and its 200-day moving average price is $35.41. The firm has a market capitalization of $51.61 billion, a price-to-earnings ratio of 5.29 and a beta of 1.35. General Motors Company has a 12-month low of $27.34 and a 12-month high of $38.55.
General Motors Company (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Friday, April 28th. The auto manufacturer reported $1.70 EPS for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.25. The business had revenue of $41.20 billion for the quarter, compared to analyst estimates of $37.38 billion. General Motors Company had a return on equity of 22.82% and a net margin of 5.92%. General Motors Company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. On average, equities analysts anticipate that General Motors Company will post $6.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.44%. General Motors Company’s dividend payout ratio (DPR) is currently 23.53%.
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Several equities research analysts have commented on the company. Instinet upgraded General Motors Company from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $45.00 in a research note on Monday, March 6th. Nomura upgraded General Motors Company from a “neutral” rating to a “buy” rating in a research note on Monday, March 6th. Vetr cut General Motors Company from a “sell” rating to a “strong sell” rating and set a $33.88 target price on the stock. in a research note on Monday, March 6th. Berenberg Bank set a $29.00 target price on General Motors Company and gave the company a “sell” rating in a research note on Monday, March 6th. Finally, Evercore ISI restated an “in-line” rating and issued a $40.00 target price on shares of General Motors Company in a research note on Monday, March 6th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $39.71.
In related news, insider Stefan Jacoby sold 2,670 shares of General Motors Company stock in a transaction on Monday, April 10th. The stock was sold at an average price of $33.85, for a total transaction of $90,379.50. Following the sale, the insider now directly owns 83,065 shares in the company, valued at $2,811,750.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jane L. Mendillo purchased 1,520 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average price of $32.92 per share, for a total transaction of $50,038.40. Following the completion of the acquisition, the director now directly owns 3,120 shares of the company’s stock, valued at approximately $102,710.40. The disclosure for this purchase can be found here. Insiders have sold 126,828 shares of company stock worth $4,208,691 over the last quarter. 0.04% of the stock is currently owned by corporate insiders.
General Motors Company 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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