Westpac Banking Corp increased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 92.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 394,682 shares of the auto manufacturer’s stock after buying an additional 189,143 shares during the quarter. Westpac Banking Corp’s holdings in General Motors were worth $14,643,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of GM. Liberty Wealth Management LLC bought a new position in shares of General Motors during the 4th quarter worth approximately $30,000. Massey Quick Simon & CO. LLC bought a new position in shares of General Motors during the 1st quarter worth approximately $35,000. Truvestments Capital LLC bought a new position in shares of General Motors during the 1st quarter worth approximately $37,000. Bremer Bank National Association bought a new position in shares of General Motors during the 1st quarter worth approximately $37,000. Finally, Advisory Alpha LLC bought a new position in shares of General Motors during the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 76.98% of the company’s stock.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine downgraded General Motors from a “hold” rating to a “sell” rating in a research note on Saturday, June 1st. Goldman Sachs Group reiterated a “neutral” rating and set a $36.00 target price on shares of General Motors in a research note on Tuesday, March 26th. Seaport Global Securities assumed coverage on General Motors in a research note on Wednesday, February 13th. They set a “buy” rating for the company. Finally, Nomura set a $42.00 target price on General Motors and gave the stock a “hold” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $47.43.
NYSE:GM traded up $0.21 during mid-day trading on Thursday, hitting $35.88. 1,531,760 shares of the stock were exchanged, compared to its average volume of 9,408,788. The stock has a market cap of $50.84 billion, a P/E ratio of 5.49, a PEG ratio of 0.61 and a beta of 1.34. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65. General Motors has a fifty-two week low of $30.56 and a fifty-two week high of $45.00.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 30th. The auto manufacturer reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.32. The business had revenue of $34.88 billion during the quarter, compared to analysts’ expectations of $35.56 billion. General Motors had a return on equity of 22.67% and a net margin of 6.26%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the firm posted $1.43 EPS. As a group, sell-side analysts forecast that General Motors will post 6.67 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.52 annualized dividend and a yield of 4.24%. General Motors’s payout ratio is currently 23.24%.
In other General Motors news, CFO Dhivya Suryadevara sold 34,756 shares of General Motors stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.40, for a total value of $1,299,874.40. Following the completion of the transaction, the chief financial officer now directly owns 10,741 shares of the company’s stock, valued at approximately $401,713.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wesley G. Bush acquired 10,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was bought at an average cost of $38.58 per share, with a total value of $385,800.00. The disclosure for this purchase can be found here. Company insiders own 0.51% of the company’s stock.
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General Motors 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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