General Motors Company (NYSE:GM) Shares Bought by Cubic Asset Management LLC
Cubic Asset Management LLC boosted its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,495 shares of the auto manufacturer’s stock after buying an additional 235 shares during the period. Cubic Asset Management LLC’s holdings in General Motors were worth $995,000 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 General Motors by 0.4% in the first quarter. Alpha Windward LLC now owns 5,417 shares of the auto manufacturer’s stock worth $192,000 after buying an additional 21 shares during the period. 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’s stock had a trading volume of 6,821,396 shares. The stock has a 50-day moving average of $35.37 and a 200 day moving average of $35.14. General Motors Company has a 52 week low of $30.13 and a 52 week high of $38.55. The stock has a market capitalization of $50.90 billion, a price-to-earnings ratio of 6.07 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The firm had revenue of $36.98 billion during the quarter, compared to analyst estimates of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.86 EPS. On average, analysts expect that General Motors Company will post $6.14 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.35%. General Motors’s payout ratio is currently 26.48%.
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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 restated a “buy” rating and issued a $47.00 price target on shares of General Motors in a report on Tuesday, May 2nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of General Motors in a research note on Wednesday, May 3rd. Buckingham Research reaffirmed a “neutral” rating on shares of General Motors in a research note on Friday, June 2nd. Finally, Vetr raised General Motors to a “strong-buy” rating in a research note on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. General Motors presently has a consensus rating of “Hold” and an average target price of $39.26.
In other General Motors news, insider Charles K. Stevens III sold 16,000 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $35.80, for a total value of $572,800.00. Following the completion of the transaction, the insider now directly owns 77,052 shares of the company’s stock, valued at approximately $2,758,461.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Daniel Ammann sold 40,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $36.00, for a total transaction of $1,440,000.00. Following the completion of the transaction, the president now directly owns 235,953 shares of the company’s stock, valued at $8,494,308. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 369,001 shares of company stock valued at $12,827,204. 0.04% of the stock is currently owned by company 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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