Norinchukin Bank The Increases Stake in General Motors Company (GM)
Norinchukin Bank The grew its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 4.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 165,947 shares of the auto manufacturer’s stock after buying an additional 7,546 shares during the period. Norinchukin Bank The’s holdings in General Motors were worth $5,797,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of General Motors in the first quarter valued at about $103,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of General Motors in the first quarter valued at about $106,000. FNY Managed Accounts LLC purchased a new stake in shares of General Motors in the first quarter valued at about $107,000. Ffcm LLC raised its holdings in shares of General Motors by 2,008.1% in the second quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock valued at $120,000 after buying an additional 3,213 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in shares of General Motors by 171.9% in the first quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the auto manufacturer’s stock valued at $182,000 after buying an additional 3,262 shares during the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.
General Motors Company (GM) traded up 0.7501% during mid-day trading on Wednesday, hitting $38.1742. 4,298,608 shares of the stock traded hands. The firm has a market cap of $55.63 billion, a PE ratio of 6.6367 and a beta of 1.44. The stock has a 50 day moving average price of $35.73 and a 200 day moving average price of $35.04. General Motors Company has a 12-month low of $30.21 and a 12-month high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $1.86 earnings per share. On average, analysts expect that General Motors Company will post $6.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s dividend payout ratio (DPR) is currently 26.48%.
In other news, Director Jane L. Mendillo bought 1,440 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average cost of $34.86 per share, with a total value of $50,198.40. Following the completion of the transaction, the director now directly owns 4,560 shares in the company, valued at approximately $158,961.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Daniel Ammann sold 40,000 shares of General Motors stock in a transaction that occurred on Monday, July 31st. The stock was 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 in the company, valued at $8,494,308. The disclosure for this sale can be found here. Over the last three months, insiders sold 330,673 shares of company stock worth $11,590,746. 0.04% of the stock is currently owned by insiders.
A number of brokerages have recently commented on GM. Berenberg Bank set a $31.00 target price on shares of General Motors and gave the company a “sell” rating in a report on Monday, August 14th. Buckingham Research reaffirmed a “neutral” rating and issued a $33.00 target price on shares of General Motors in a report on Friday, September 8th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $44.00 target price on shares of General Motors in a report on Tuesday. BidaskClub raised shares of General Motors from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Finally, Zacks Investment Research raised shares of General Motors from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company’s stock. General Motors currently has an average rating of “Buy” and a consensus target price of $38.97.
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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