Butensky & Cohen Financial Security Inc. increased its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,198 shares of the auto manufacturer’s stock after buying an additional 1,675 shares during the period. General Motors makes up about 1.8% of Butensky & Cohen Financial Security Inc.’s investment portfolio, making the stock its 14th largest position. Butensky & Cohen Financial Security Inc.’s holdings in General Motors were worth $2,033,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in GM. Alpha Windward LLC boosted its position in shares of General Motors by 0.4% in the first quarter. Alpha Windward LLC now owns 5,417 shares of the auto manufacturer’s stock worth $192,000 after buying an additional 21 shares during the last quarter. North Star Investment Management Corp. raised its stake in 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 worth $184,000 after buying an additional 42 shares during the period. Spectrum Asset Management Inc. NB CA raised its stake in 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 worth $242,000 after buying an additional 100 shares during the period. Telemus Capital LLC raised its position in shares of General Motors by 1.3% in the first quarter. Telemus Capital LLC now owns 8,193 shares of the auto manufacturer’s stock valued at $290,000 after buying an additional 102 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its position 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 last quarter. 76.02% of the stock is owned by institutional investors.
Shares of General Motors Company (GM) traded up 0.14% during midday trading on Friday, hitting $34.93. 6,821,396 shares of the stock were exchanged. The firm has a market cap of $50.90 billion, a P/E ratio of 6.07 and a beta of 1.45. General Motors Company has a 12-month low of $30.13 and a 12-month high of $38.55. The stock’s 50 day moving average is $35.37 and its 200 day moving average is $35.14.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. During the same period in the prior year, the company posted $1.86 earnings per share. General Motors’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that General Motors Company will post $6.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be paid a $0.38 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.35%. General Motors’s dividend payout ratio (DPR) is presently 26.48%.
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Several research analysts have recently commented on the company. BidaskClub lowered General Motors from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. BMO Capital Markets reiterated a “market perform” rating on shares of General Motors in a research note on Wednesday, May 3rd. Vetr upgraded General Motors from a “hold” rating to a “buy” rating and set a $37.42 price objective on the stock in a research note on Monday, July 24th. Royal Bank Of Canada restated a “hold” rating and issued a $37.00 price target on shares of General Motors in a research note on Friday, July 14th. Finally, Buckingham Research reiterated a “neutral” rating on shares of General Motors in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. General Motors has an average rating of “Hold” and a consensus price target of $39.26.
In other news, Director Patricia F. Russo acquired 10,000 shares of General Motors stock in a transaction on Tuesday, August 1st. The shares were purchased at an average cost of $34.73 per share, for a total transaction of $347,300.00. Following the completion of the purchase, the director now directly owns 12,300 shares of the company’s stock, valued at approximately $427,179. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Karl-Thomas Neumann sold 46,472 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $32.84, for a total transaction of $1,526,140.48. The disclosure for this sale can be found here. Insiders sold 369,001 shares of company stock worth $12,827,204 over the last 90 days. 0.04% of the stock is currently owned by corporate insiders.
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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