HighTower Advisors LLC Decreases Stake in General Motors Company (NYSE:GM)

HighTower Advisors LLC cut its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 11.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,206 shares of the auto manufacturer’s stock after selling 44,786 shares during the period. HighTower Advisors LLC’s holdings in General Motors were worth $11,994,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GM. State of Alaska Department of Revenue acquired a new position in shares of General Motors during the first quarter valued at approximately $103,000. SRS Capital Advisors Inc. increased its stake in General Motors by 171.9% in the first quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the auto manufacturer’s stock worth $182,000 after buying an additional 3,262 shares in the last quarter. North Star Investment Management Corp. increased 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 in the last quarter. Alpha Windward LLC increased its stake in 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 in the last quarter. Finally, Lakeview Capital Partners LLC purchased a new stake in General Motors during the first quarter worth approximately $211,000. 76.02% of the stock is owned by institutional investors and hedge funds.

General Motors Company (GM) traded up 0.14% on Friday, reaching $34.93. 6,821,396 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $35.37 and a 200-day moving average of $35.14. General Motors Company has a 12-month low of $30.13 and a 12-month high of $38.55. The company has a market cap of $50.90 billion, a P/E ratio of 6.07 and a beta of 1.45.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 earnings per share. Equities analysts expect that General Motors Company will post $6.14 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio is currently 26.48%.

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GM has been the topic of a number of research analyst reports. Royal Bank Of Canada reiterated a “hold” rating and issued a $37.00 target price on shares of General Motors in a research report on Friday, July 14th. Zacks Investment Research raised General Motors from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Wednesday, June 21st. Jefferies Group LLC reissued a “buy” rating and set a $36.00 price objective on shares of General Motors in a research note on Tuesday, June 13th. Piper Jaffray Companies reissued a “buy” rating and set a $44.00 price objective on shares of General Motors in a research note on Wednesday, July 12th. Finally, ValuEngine raised General Motors from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. General Motors presently has an average rating of “Hold” and a consensus target price of $39.26.

In other news, Director Patricia F. Russo purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average cost of $34.73 per share, with a total value of $347,300.00. Following the acquisition, the director now owns 12,300 shares in the company, valued at $427,179. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas S. Timko sold 17,255 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $35.79, for a total transaction of $617,556.45. Following the transaction, the vice president now directly owns 26,100 shares of the company’s stock, valued at $934,119. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 369,001 shares of company stock worth $12,827,204. 0.04% of the stock is currently owned by 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.

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

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