APG Asset Management N.V. boosted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,905,941 shares of the auto manufacturer’s stock after purchasing an additional 130,800 shares during the period. APG Asset Management N.V.’s holdings in General Motors were worth $98,319,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Next Capital Management LLC bought a new position in shares of General Motors in the 2nd quarter valued at about $25,000. Trust Co. of Vermont raised its stake in General Motors by 101.2% in the 2nd quarter. Trust Co. of Vermont now owns 666 shares of the auto manufacturer’s stock worth $26,000 after purchasing an additional 335 shares in the last quarter. Advisors Preferred LLC acquired a new stake in General Motors in the 2nd quarter worth about $26,000. Webster Bank N. A. raised its stake in General Motors by 253.5% in the 2nd quarter. Webster Bank N. A. now owns 700 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 502 shares in the last quarter. Finally, Bremer Bank National Association acquired a new stake in General Motors in the 1st quarter worth about $37,000. 77.36% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on GM shares. Citigroup lifted their price objective on shares of General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Credit Suisse Group started coverage on shares of General Motors in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of General Motors to $52.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. ValuEngine cut shares of General Motors from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley set a $46.00 price objective on shares of General Motors and gave the stock a “buy” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $46.58.
Shares of NYSE:GM opened at $39.07 on Friday. The firm has a 50 day moving average of $38.48 and a 200-day moving average of $38.02. The stock has a market capitalization of $56.51 billion, a PE ratio of 6.23, a PEG ratio of 0.65 and a beta of 1.42. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 1.56. General Motors has a 12 month low of $30.56 and a 12 month high of $41.90.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 EPS for the quarter, beating the consensus estimate of $1.43 by $0.21. The company had revenue of $36.06 billion during the quarter, compared to analysts’ expectations of $36.03 billion. General Motors had a net margin of 6.31% and a return on equity of 21.08%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 EPS. On average, research analysts predict that General Motors will post 6.8 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Thursday, September 5th. General Motors’s payout ratio is presently 23.24%.
In related news, President Mark L. Reuss sold 275,944 shares of General Motors stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the sale, the president now directly owns 479,413 shares of the company’s stock, valued at approximately $19,190,902.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matthew Tsien sold 83,067 shares of General Motors stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $39.50, for a total transaction of $3,281,146.50. Following the sale, the executive vice president now directly owns 84,667 shares in the company, valued at $3,344,346.50. The disclosure for this sale can be found here. Insiders sold a total of 375,944 shares of company stock valued at $14,996,038 over the last 90 days. Corporate insiders own 0.51% of the company’s stock.
General Motors Company 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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