State of Tennessee Treasury Department decreased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 848,537 shares of the auto manufacturer’s stock after selling 106,392 shares during the period. State of Tennessee Treasury Department owned 0.06% of General Motors worth $34,782,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of GM. SG Americas Securities LLC increased its stake in shares of General Motors by 4,992.3% in the fourth quarter. SG Americas Securities LLC now owns 2,962,746 shares of the auto manufacturer’s stock valued at $121,443,000 after buying an additional 2,904,565 shares during the period. APG Asset Management N.V. increased its stake in shares of General Motors by 807.4% in the fourth quarter. APG Asset Management N.V. now owns 2,597,441 shares of the auto manufacturer’s stock valued at $88,665,000 after buying an additional 2,311,204 shares during the period. Levin Capital Strategies L.P. increased its stake in shares of General Motors by 123.4% in the fourth quarter. Levin Capital Strategies L.P. now owns 3,440,444 shares of the auto manufacturer’s stock valued at $141,024,000 after buying an additional 1,900,236 shares during the period. AXA increased its stake in shares of General Motors by 295.3% in the third quarter. AXA now owns 1,944,602 shares of the auto manufacturer’s stock valued at $78,523,000 after buying an additional 1,452,633 shares during the period. Finally, Artemis Investment Management LLP increased its stake in shares of General Motors by 43.5% in the third quarter. Artemis Investment Management LLP now owns 4,595,697 shares of the auto manufacturer’s stock valued at $185,596,000 after buying an additional 1,394,165 shares during the period. 73.74% of the stock is owned by institutional investors.
In other news, EVP Mark L. Reuss sold 165,944 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $41.85, for a total value of $6,944,756.40. Following the transaction, the executive vice president now owns 369,878 shares in the company, valued at $15,479,394.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barry L. Engle II sold 50,443 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $45.00, for a total value of $2,269,935.00. Following the completion of the transaction, the insider now owns 57,091 shares in the company, valued at approximately $2,569,095. The disclosure for this sale can be found here. Insiders sold 378,252 shares of company stock worth $16,094,534 in the last 90 days. Corporate insiders own 0.04% of the company’s stock.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, February 6th. The auto manufacturer reported $1.65 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.31. General Motors had a positive return on equity of 22.86% and a negative net margin of 2.58%. The firm had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $34.28 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. equities research analysts expect that General Motors will post 6.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be issued 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 dividend yield of 3.74%. General Motors’s dividend payout ratio is presently 29.51%.
Several equities research analysts recently commented on GM shares. Deutsche Bank reaffirmed a “buy” rating on shares of General Motors in a research note on Friday, November 17th. Vetr cut General Motors from a “buy” rating to a “hold” rating and set a $43.99 target price for the company. in a research note on Monday, November 13th. Royal Bank of Canada raised their target price on General Motors from $44.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 25th. BMO Capital Markets raised General Motors to a “market perform” rating and raised their target price for the stock from $41.00 to $48.00 in a research note on Wednesday, October 25th. Finally, Barclays reaffirmed a “buy” rating and set a $61.00 target price on shares of General Motors in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $44.44.
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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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