Oakbrook Investments LLC Cuts Position in General Motors (NYSE:GM)

Oakbrook Investments LLC reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,060 shares of the auto manufacturer’s stock after selling 550 shares during the quarter. Oakbrook Investments LLC’s holdings in General Motors were worth $1,672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GM. Man Group plc lifted its holdings in shares of General Motors by 16.4% in the third quarter. Man Group plc now owns 512,284 shares of the auto manufacturer’s stock worth $17,248,000 after buying an additional 72,244 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of General Motors by 24.8% in the third quarter. Mackenzie Financial Corp now owns 16,288 shares of the auto manufacturer’s stock worth $548,000 after buying an additional 3,239 shares in the last quarter. Kentucky Retirement Systems purchased a new position in shares of General Motors in the third quarter worth $3,843,000. Neuberger Berman Group LLC lifted its holdings in shares of General Motors by 39.4% in the third quarter. Neuberger Berman Group LLC now owns 3,019,139 shares of the auto manufacturer’s stock worth $101,654,000 after buying an additional 853,077 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of General Motors by 2.3% in the third quarter. Nordea Investment Management AB now owns 141,321 shares of the auto manufacturer’s stock worth $4,759,000 after buying an additional 3,140 shares in the last quarter. 77.16% of the stock is owned by institutional investors.

Several equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. Nomura set a $42.00 target price on shares of General Motors and gave the stock a “hold” rating in a report on Thursday, May 2nd. Goldman Sachs Group reissued a “neutral” rating and issued a $36.00 target price on shares of General Motors in a report on Tuesday, March 26th. Seaport Global Securities assumed coverage on shares of General Motors in a report on Wednesday, February 13th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada boosted their target price on shares of General Motors from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, February 7th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. General Motors has an average rating of “Buy” and a consensus price target of $47.60.

In other General Motors news, VP Christopher Hatto sold 8,499 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $40.00, for a total transaction of $339,960.00. Following the completion of the sale, the vice president now directly owns 10,040 shares of the company’s stock, valued at $401,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alan S. Batey sold 70,266 shares of the stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $38.39, for a total transaction of $2,697,511.74. Following the sale, the insider now directly owns 205,906 shares of the company’s stock, valued at $7,904,731.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,521 shares of company stock valued at $4,337,346. 0.51% of the stock is owned by insiders.

Shares of GM traded up $0.31 during trading hours on Friday, reaching $37.89. 6,440,334 shares of the company traded hands, compared to its average volume of 8,270,774. The firm has a market capitalization of $53.30 billion, a P/E ratio of 5.79, a P/E/G ratio of 0.64 and a beta of 1.27. General Motors has a 12-month low of $30.56 and a 12-month high of $45.00. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 30th. The auto manufacturer reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.32. General Motors had a net margin of 6.26% and a return on equity of 22.67%. The company had revenue of $34.88 billion during the quarter, compared to analyst estimates of $35.56 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. Analysts predict that General Motors will post 6.58 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Thursday, June 6th. General Motors’s dividend payout ratio (DPR) is presently 23.24%.

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About General Motors

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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