General Motors Company (GM) Shares Sold by Argyle Capital Management Inc.
Argyle Capital Management Inc. cut its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,300 shares of the auto manufacturer’s stock after selling 700 shares during the period. Argyle Capital Management Inc.’s holdings in General Motors were worth $2,770,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Alpha Windward LLC increased its stake in shares of General Motors by 0.4% in the first quarter. Alpha Windward LLC now owns 5,417 shares of the auto manufacturer’s stock valued at $192,000 after buying an additional 21 shares in the last quarter. North Star Investment Management Corp. increased its stake in General Motors by 0.8% in the first quarter. North Star Investment Management Corp. now owns 5,215 shares of the auto manufacturer’s stock worth $184,000 after buying an additional 42 shares during the period. Spectrum Asset Management Inc. NB CA increased its stake in General Motors by 1.5% in the first quarter. Spectrum Asset Management Inc. NB CA now owns 6,850 shares of the auto manufacturer’s stock worth $242,000 after buying an additional 100 shares during the period. Telemus Capital LLC increased its stake in General Motors by 1.3% in the first quarter. Telemus Capital LLC now owns 8,193 shares of the auto manufacturer’s stock worth $290,000 after buying an additional 102 shares during the period. Finally, Rehmann Capital Advisory Group increased its stake in General Motors by 1.8% in the second quarter. Rehmann Capital Advisory Group now owns 6,583 shares of the auto manufacturer’s stock worth $230,000 after buying an additional 115 shares during the period. 76.02% of the stock is owned by hedge funds and other institutional investors.
Shares of General Motors Company (NYSE:GM) traded up 0.14% on Friday, reaching $34.93. The company had a trading volume of 6,821,396 shares. The company’s 50-day moving average is $35.37 and its 200 day moving average is $35.14. The firm has a market capitalization of $50.90 billion, a PE ratio of 6.07 and a beta of 1.45. General Motors Company has a 12 month low of $30.13 and a 12 month high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The company 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 firm’s revenue was down 1.1% compared to the same quarter last year. Equities analysts forecast that General Motors Company will post $6.14 earnings per share 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 issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio is currently 26.48%.
GM has been the subject of a number of research analyst reports. UBS AG reiterated a “buy” rating and set a $40.00 price objective (up previously from $38.00) on shares of General Motors in a research report on Friday, April 14th. Nomura reiterated a “buy” rating and set a $47.00 price objective on shares of General Motors in a research report on Tuesday, May 2nd. BMO Capital Markets restated a “market perform” rating on shares of General Motors in a report on Wednesday, May 3rd. Buckingham Research restated a “neutral” rating on shares of General Motors in a report on Friday, June 2nd. Finally, Vetr upgraded General Motors to a “strong-buy” rating in a report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $39.26.
In other news, insider Karl-Thomas Neumann sold 234,274 shares of General Motors stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $34.77, for a total transaction of $8,145,706.98. Following the completion of the sale, the insider now directly owns 234,274 shares of the company’s stock, valued at approximately $8,145,706.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas S. Timko sold 17,255 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $35.79, for a total transaction of $617,556.45. Following the completion of the sale, the vice president now directly owns 26,100 shares of the company’s stock, valued at $934,119. The disclosure for this sale can be found here. Insiders have sold a total of 369,001 shares of company stock valued at $12,827,204 over the last ninety days. 0.04% of the stock is currently owned by insiders.
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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