California State Teachers Retirement System lowered its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 9.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,616,825 shares of the auto manufacturer’s stock after selling 264,262 shares during the period. California State Teachers Retirement System owned about 0.18% of General Motors worth $91,405,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC raised its position in shares of General Motors by 43.5% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock worth $101,000 after purchasing an additional 860 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of General Motors during the 1st quarter worth about $106,000. FNY Managed Accounts LLC acquired a new position in shares of General Motors during the 1st quarter worth about $107,000. State of Alaska Department of Revenue raised its position in shares of General Motors by 10.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after purchasing an additional 310 shares during the last quarter. Finally, Ffcm LLC raised its position in shares of General Motors by 2,008.1% during the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after purchasing an additional 3,213 shares during the last quarter. Hedge funds and other institutional investors own 72.22% of the company’s stock.
Several research analysts recently weighed in on GM shares. BidaskClub upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. ValuEngine upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 28th. Piper Jaffray Companies restated a “buy” rating and set a $44.00 price target on shares of General Motors in a research report on Tuesday, September 12th. Royal Bank Of Canada restated a “hold” rating and set a $37.00 price target on shares of General Motors in a research report on Friday, July 14th. Finally, Vetr downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $37.42 price target for the company. in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. General Motors presently has a consensus rating of “Buy” and an average target price of $41.35.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm had revenue of $36.98 billion during the quarter, compared to the consensus estimate of $37.67 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. General Motors’s revenue was down 1.1% compared to the same quarter last year. Analysts forecast that General Motors Company will post $6.13 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were issued a $0.38 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.35%. General Motors’s payout ratio is 26.48%.
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In related news, EVP Craig B. Glidden sold 192,954 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $41.64, for a total value of $8,034,604.56. Following the completion of the sale, the executive vice president now directly owns 214,171 shares in the company, valued at $8,918,080.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Alicia S. Boler-Davis sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $40.90, for a total transaction of $409,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 842,901 shares of company stock valued at $31,928,733. 0.04% of the stock is owned by insiders.
General Motors Company Profile
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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