Wellington Shields Capital Management LLC raised its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 8.8% in the 4th quarter, HoldingsChannel reports. The firm owned 50,920 shares of the auto manufacturer’s stock after acquiring an additional 4,100 shares during the period. Wellington Shields Capital Management LLC’s holdings in General Motors were worth $2,087,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of GM. Swiss National Bank grew its stake in General Motors by 1.6% during the third quarter. Swiss National Bank now owns 5,006,857 shares of the auto manufacturer’s stock valued at $202,177,000 after acquiring an additional 81,000 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in General Motors by 181.5% during the third quarter. Alyeska Investment Group L.P. now owns 1,809,371 shares of the auto manufacturer’s stock valued at $73,062,000 after acquiring an additional 1,166,696 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in General Motors by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 14,900,059 shares of the auto manufacturer’s stock valued at $601,683,000 after acquiring an additional 331,621 shares in the last quarter. Lehman Financial Resources Inc. grew its stake in General Motors by 6.4% during the third quarter. Lehman Financial Resources Inc. now owns 67,653 shares of the auto manufacturer’s stock valued at $2,731,000 after acquiring an additional 4,050 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in General Motors during the third quarter valued at approximately $701,000. Hedge funds and other institutional investors own 72.49% of the company’s stock.
GM has been the subject of several recent analyst reports. Vetr cut shares of General Motors from a “buy” rating to a “hold” rating and set a $43.99 price objective for the company. in a research note on Monday, November 13th. Zacks Investment Research cut shares of General Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Cascend Securities cut shares of General Motors to a “buy” rating in a research note on Tuesday, December 5th. Barclays reaffirmed a “buy” rating and set a $61.00 price objective on shares of General Motors in a research note on Tuesday, January 9th. Finally, Goldman Sachs Group cut shares of General Motors from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $43.16 to $32.00 in a research note on Monday, October 30th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $44.36.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 EPS for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.31. General Motors had a negative net margin of 2.58% and a positive return on equity of 22.86%. The business had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $34.28 billion. During the same quarter in the previous year, the company earned $1.28 EPS. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. sell-side analysts expect that General Motors will post 6 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.52 dividend on an annualized basis and a yield of 3.57%. General Motors’s dividend payout ratio is presently -52.59%.
In other news, insider Barry L. Engle II sold 50,443 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $43.08, for a total value of $2,173,084.44. Following the completion of the sale, the insider now directly owns 57,091 shares in the company, valued at approximately $2,459,480.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark L. Reuss sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $43.09, for a total transaction of $1,292,700.00. Following the completion of the sale, the insider now owns 103,052 shares of the company’s stock, valued at $4,440,510.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,847 shares of company stock valued at $7,363,108. Company insiders own 0.04% of the company’s stock.
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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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