Eliot Finkel Investment Counsel LLC reduced its stake in General Motors Co. (NYSE:GM) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,970 shares of the auto manufacturer’s stock after selling 990 shares during the period. General Motors comprises about 3.9% of Eliot Finkel Investment Counsel LLC’s portfolio, making the stock its 11th largest position. Eliot Finkel Investment Counsel LLC’s holdings in General Motors were worth $4,414,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC acquired a new stake in shares of General Motors during the first quarter worth $56,200,000. National Pension Service increased its stake in shares of General Motors by 4.1% in the first quarter. National Pension Service now owns 823,356 shares of the auto manufacturer’s stock worth $25,878,000 after buying an additional 32,253 shares in the last quarter. Natixis increased its stake in shares of General Motors by 576.0% in the first quarter. Natixis now owns 2,515,846 shares of the auto manufacturer’s stock worth $79,073,000 after buying an additional 2,143,679 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of General Motors by 6.5% in the second quarter. Acadian Asset Management LLC now owns 28,095 shares of the auto manufacturer’s stock worth $795,000 after buying an additional 1,722 shares in the last quarter. Finally, Artemis Investment Management LLP increased its stake in shares of General Motors by 126.9% in the second quarter. Artemis Investment Management LLP now owns 6,464,090 shares of the auto manufacturer’s stock worth $182,903,000 after buying an additional 3,615,099 shares in the last quarter. 70.40% of the stock is owned by institutional investors.
General Motors Co. (NYSE:GM) traded up 1.14% on Friday, reaching $31.87. 11,105,111 shares of the company’s stock traded hands. The firm has a market cap of $49.78 billion, a price-to-earnings ratio of 4.08 and a beta of 1.65. General Motors Co. has a 52-week low of $26.69 and a 52-week high of $36.88. The stock’s 50 day moving average is $31.75 and its 200 day moving average is $30.89.
General Motors (NYSE:GM) last issued its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.35. The company had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.81 billion. General Motors had a net margin of 7.90% and a return on equity of 23.96%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. On average, equities research analysts predict that General Motors Co. will post $5.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Wednesday, September 7th. General Motors’s dividend payout ratio (DPR) is presently 19.46%.
A number of equities research analysts recently weighed in on the stock. Vetr downgraded shares of General Motors from a “strong-buy” rating to a “buy” rating and set a $35.06 price objective for the company. in a research report on Monday, September 5th. Morgan Stanley raised shares of General Motors from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $29.00 to $37.00 in a research report on Monday, September 19th. Barclays PLC reaffirmed an “equal weight” rating and set a $66.00 price objective on shares of General Motors in a research report on Friday, September 23rd. SunTrust Banks Inc. reaffirmed a “buy” rating and set a $28.00 price objective on shares of General Motors in a research report on Monday, June 20th. Finally, Seaport Global Securities assumed coverage on shares of General Motors in a research report on Tuesday, August 9th. They set a “buy” rating and a $42.00 price objective for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. General Motors has a consensus rating of “Hold” and an average price target of $36.67.
In related news, VP Thomas S. Timko sold 6,250 shares of General Motors stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $31.94, for a total transaction of $199,625.00. Following the transaction, the vice president now owns 27,477 shares of the company’s stock, valued at approximately $877,615.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jane L. Mendillo acquired 1,600 shares of General Motors stock in a transaction that occurred on Tuesday, August 2nd. The shares were purchased at an average cost of $31.01 per share, for a total transaction of $49,616.00. Following the purchase, the director now directly owns 1,600 shares in the company, valued at $49,616. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.