Strs Ohio cut its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,975,972 shares of the auto manufacturer’s stock after selling 20,668 shares during the quarter. Strs Ohio owned about 0.14% of General Motors worth $76,134,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of General Motors by 6.7% during the first quarter. BlackRock Inc. now owns 83,427,385 shares of the auto manufacturer’s stock worth $3,095,158,000 after buying an additional 5,215,771 shares during the period. Greenhaven Associates Inc. acquired a new stake in shares of General Motors during the first quarter worth $754,274,000. Geode Capital Management LLC increased its position in shares of General Motors by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 16,309,521 shares of the auto manufacturer’s stock worth $544,715,000 after buying an additional 1,217,986 shares during the period. Northern Trust Corp grew its holdings in General Motors by 0.6% in the first quarter. Northern Trust Corp now owns 14,222,304 shares of the auto manufacturer’s stock worth $527,647,000 after purchasing an additional 88,947 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in General Motors by 2.6% in the first quarter. Janus Henderson Group PLC now owns 9,790,204 shares of the auto manufacturer’s stock worth $363,227,000 after purchasing an additional 251,311 shares during the period. Institutional investors own 76.62% of the company’s stock.
A number of equities research analysts have commented on GM shares. Zacks Investment Research cut 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 price target on shares of General Motors and gave the stock a “hold” rating in a report on Thursday, May 2nd. Credit Suisse Group started coverage on shares of General Motors in a report on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 price target for the company. ValuEngine upgraded shares of General Motors from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised their price target on shares of General Motors to $52.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. General Motors has a consensus rating of “Buy” and an average target price of $47.58.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.21. General Motors had a net margin of 6.31% and a return on equity of 21.08%. The company had revenue of $36.06 billion for the quarter, compared to analyst estimates of $36.03 billion. During the same period last year, the firm earned $1.81 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis. As a group, sell-side analysts expect that General Motors will post 6.66 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, September 5th. General Motors’s payout ratio is currently 23.24%.
In other news, Director Wesley G. Bush purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average cost of $38.58 per share, with a total value of $385,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is owned by company insiders.
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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