Raymond James Financial Services Advisors Inc. grew its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 14.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,641 shares of the auto manufacturer’s stock after purchasing an additional 23,608 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in General Motors were worth $6,380,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of GM. YorkBridge Wealth Partners LLC lifted its stake 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 acquiring an additional 860 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of General Motors during the 1st quarter worth approximately $106,000. FNY Managed Accounts LLC bought a new stake in shares of General Motors during the 1st quarter worth approximately $107,000. State of Alaska Department of Revenue lifted its stake 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 acquiring an additional 310 shares during the last quarter. Finally, Ffcm LLC lifted its stake 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 acquiring an additional 3,213 shares during the last quarter. 72.22% of the stock is owned by institutional investors and hedge funds.
In related news, insider Alan S. Batey sold 8,144 shares of General Motors stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $35.57, for a total transaction of $289,682.08. Following the completion of the transaction, the insider now directly owns 66,748 shares in the company, valued at approximately $2,374,226.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia F. Russo acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were bought at an average price of $34.73 per share, with a total value of $347,300.00. Following the completion of the transaction, the director now directly owns 12,300 shares in the company, valued at $427,179. The disclosure for this purchase can be found here. Insiders have sold a total of 852,901 shares of company stock valued at $32,378,733 over the last 90 days. Insiders own 0.04% of the company’s stock.
GM has been the subject of a number of research analyst reports. Berenberg Bank set a $31.00 target price on General Motors and gave the company a “sell” rating in a research report on Monday, August 14th. UBS AG reaffirmed a “buy” rating and set a $50.00 target price (up from $39.00) on shares of General Motors in a research report on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and set a $43.00 target price on shares of General Motors in a research report on Wednesday, October 4th. Citigroup Inc. reaffirmed a “buy” rating and set a $53.00 target price on shares of General Motors in a research report on Monday, October 2nd. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $51.00 price target on shares of General Motors in a report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $41.83.
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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. 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 posted $1.86 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.34%. General Motors’s dividend payout ratio is currently 26.48%.
About General Motors
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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