First National Trust Co. lowered its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 14.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 21,099 shares of the auto manufacturer’s stock after selling 3,694 shares during the quarter. First National Trust Co.’s holdings in General Motors were worth $852,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of General Motors by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after purchasing an additional 3,560,717 shares during the last quarter. BlackRock Inc. increased its position in shares of General Motors by 1.1% during the 2nd quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock valued at $2,750,849,000 after purchasing an additional 850,211 shares during the last quarter. Berkshire Hathaway Inc. increased its position in shares of General Motors by 20.0% during the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after purchasing an additional 10,000,000 shares during the last quarter. Capital World Investors increased its position in shares of General Motors by 5.0% during the 2nd quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock valued at $1,094,259,000 after purchasing an additional 1,500,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in General Motors by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,568,438 shares of the auto manufacturer’s stock valued at $508,880,000 after acquiring an additional 59,774 shares during the period. 74.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Motors Company (GM) traded down $0.63 during trading hours on Tuesday, reaching $42.94. The company had a trading volume of 3,422,590 shares, compared to its average volume of 13,453,168. General Motors Company has a 12 month low of $31.92 and a 12 month high of $46.76. The firm has a market cap of $61,890.00, a price-to-earnings ratio of 6.89, a P/E/G ratio of 0.74 and a beta of 1.56. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.25. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The company had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. During the same period in the prior year, the company posted $1.72 EPS. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. equities analysts predict that General Motors Company will post 6.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s dividend payout ratio is currently 32.90%.
In related news, President Daniel Ammann sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the transaction, the president now directly owns 185,953 shares of the company’s stock, valued at approximately $7,066,214. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jane L. Mendillo bought 1,440 shares of General Motors stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost of $34.86 per share, for a total transaction of $50,198.40. Following the completion of the transaction, the director now directly owns 4,560 shares in the company, valued at $158,961.60. The disclosure for this purchase can be found here. Insiders have sold a total of 971,122 shares of company stock worth $40,627,952 over the last ninety days. 0.04% of the stock is currently owned by corporate insiders.
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A number of research firms recently issued reports on GM. UBS AG restated a “buy” rating and set a $50.00 price objective (up previously from $39.00) on shares of General Motors in a report on Wednesday, October 11th. Buckingham Research restated a “hold” rating on shares of General Motors in a report on Thursday, August 24th. Craig Hallum set a $45.00 price objective on General Motors and gave the company a “hold” rating in a report on Wednesday, October 25th. BidaskClub cut General Motors from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research cut General Motors from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. General Motors presently has a consensus rating of “Hold” and an average price target of $43.61.
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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