Northpointe Capital LLC trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,891 shares of the auto manufacturer’s stock after selling 3,078 shares during the quarter. Northpointe Capital LLC’s holdings in General Motors were worth $2,500,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in GM. Trust Co. of Vermont lifted its position in shares of General Motors by 101.2% in the second quarter. Trust Co. of Vermont now owns 666 shares of the auto manufacturer’s stock worth $26,000 after purchasing an additional 335 shares in the last quarter. Webster Bank N. A. lifted its position in shares of General Motors by 253.5% in the second quarter. Webster Bank N. A. now owns 700 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 502 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new stake in shares of General Motors in the first quarter worth approximately $35,000. Truvestments Capital LLC purchased a new stake in shares of General Motors in the first quarter worth approximately $37,000. Finally, Bremer Bank National Association purchased a new stake in shares of General Motors in the first quarter worth approximately $37,000. Institutional investors own 76.62% of the company’s stock.
A number of research firms have recently issued reports on GM. Nomura set a $42.00 price target on shares of General Motors and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Royal Bank of Canada increased their price target on shares of General Motors to $52.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. ValuEngine raised shares of General Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Credit Suisse Group began coverage on shares of General Motors in a research report on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 price target for the company. Finally, Zacks Investment Research lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $47.58.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.21. The firm had revenue of $36.06 billion for the quarter, compared to analyst estimates of $36.03 billion. General Motors had a net margin of 6.31% and a return on equity of 21.08%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.81 earnings per share. As a group, research analysts expect that General Motors will post 6.67 EPS for the current year.
The firm also recently disclosed 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 annualized dividend and a yield of 3.89%. The ex-dividend date is Thursday, September 5th. General Motors’s payout ratio is presently 23.24%.
In related news, President Mark L. Reuss sold 275,944 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the transaction, the president now owns 479,413 shares of the company’s stock, valued at $19,190,902.39. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.51% of the stock is currently owned by company insiders.
General Motors Company Profile
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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