Bank of New York Mellon Corp reduced its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,582,612 shares of the auto manufacturer’s stock after selling 755,771 shares during the period. Bank of New York Mellon Corp owned about 0.79% of General Motors worth $404,580,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of GM. Clearbridge Investments LLC boosted its position in shares of General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock valued at $140,394,000 after buying an additional 3,955,426 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock valued at $214,576,000 after buying an additional 3,420,200 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of General Motors by 3.2% in the first quarter. Vanguard Group Inc. now owns 89,853,324 shares of the auto manufacturer’s stock valued at $3,177,214,000 after buying an additional 2,744,821 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of General Motors by 87.0% in the first quarter. Alliancebernstein L.P. now owns 5,174,420 shares of the auto manufacturer’s stock valued at $182,967,000 after buying an additional 2,407,818 shares in the last quarter. Finally, State Street Corp boosted its position in shares of General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after buying an additional 2,252,866 shares in the last quarter. 75.56% of the stock is owned by institutional investors and hedge funds.
Shares of General Motors Company (NYSE:GM) opened at 35.75 on Thursday. The company’s 50-day moving average is $35.48 and its 200-day moving average is $35.09. The stock has a market cap of $52.10 billion, a PE ratio of 6.22 and a beta of 1.45. General Motors Company has a 52-week low of $30.13 and a 52-week high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $36.98 billion during 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 was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 EPS. Equities analysts anticipate that General Motors Company will post $6.13 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.25%. General Motors’s dividend payout ratio is presently 26.48%.
A number of research analysts recently weighed in on the stock. BidaskClub cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. BMO Capital Markets restated a “market perform” rating on shares of General Motors in a research note on Wednesday, May 3rd. Berenberg Bank set a $31.00 target price on shares of General Motors and gave the company a “sell” rating in a research note on Monday. Vetr upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $37.42 target price on the stock in a research note on Monday, July 24th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $37.00 target price on shares of General Motors in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the stock. General Motors currently has a consensus rating of “Buy” and a consensus target price of $39.26.
In related news, Director Patricia F. Russo acquired 10,000 shares of General Motors stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average price of $34.73 per share, for a total transaction of $347,300.00. Following the transaction, the director now owns 12,300 shares of the company’s stock, valued at $427,179. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jane L. Mendillo acquired 1,520 shares of General Motors stock in a transaction dated Friday, May 26th. The shares were bought at an average price of $32.92 per share, with a total value of $50,038.40. Following the transaction, the director now directly owns 3,120 shares in the company, valued at approximately $102,710.40. The disclosure for this purchase can be found here. Insiders have sold a total of 369,001 shares of company stock valued at $12,827,204 in the last 90 days. Insiders own 0.04% of the company’s stock.
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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