Gluskin Sheff & Assoc Inc. Decreases Position in General Motors Company (GM)
Gluskin Sheff & Assoc Inc. lessened its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 22.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 937,667 shares of the auto manufacturer’s stock after selling 277,627 shares during the quarter. General Motors makes up 3.0% of Gluskin Sheff & Assoc Inc.’s portfolio, making the stock its 8th biggest position. Gluskin Sheff & Assoc Inc. owned 0.06% of General Motors worth $32,753,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Intrust Bank NA raised its holdings in shares of General Motors by 0.3% during the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock valued at $250,000 after acquiring an additional 25 shares in the last quarter. IFC Holdings Incorporated FL raised its holdings in shares of General Motors by 0.3% during the second quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock valued at $1,120,000 after acquiring an additional 88 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of General Motors by 1.8% during the second quarter. Rehmann Capital Advisory Group now owns 6,583 shares of the auto manufacturer’s stock valued at $230,000 after acquiring an additional 115 shares in the last quarter. Alpha Windward LLC raised its holdings in shares of General Motors by 2.3% during the second quarter. Alpha Windward LLC now owns 5,542 shares of the auto manufacturer’s stock valued at $194,000 after acquiring an additional 125 shares in the last quarter. Finally, Heritage Investors Management Corp raised its holdings in shares of General Motors by 0.3% during the second quarter. Heritage Investors Management Corp now owns 49,657 shares of the auto manufacturer’s stock valued at $1,735,000 after acquiring an additional 130 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.
General Motors Company (NYSE:GM) traded up 0.504% during midday trading on Wednesday, hitting $38.895. The company had a trading volume of 2,744,905 shares. The stock has a market capitalization of $56.68 billion, a PE ratio of 6.762 and a beta of 1.44. The stock has a 50 day moving average price of $36.19 and a 200-day moving average price of $35.09. General Motors Company has a 52 week low of $30.21 and a 52 week high of $39.18.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. During the same period in the prior year, the company posted $1.86 EPS. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts predict that General Motors Company will post $6.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s dividend payout ratio is currently 26.48%.
A number of equities analysts recently commented on GM shares. Buckingham Research restated a “neutral” rating on shares of General Motors in a report on Friday, June 2nd. Vetr upgraded General Motors to a “strong-buy” rating in a report on Friday, June 9th. Berenberg Bank restated a “sell” rating and set a $31.00 target price on shares of General Motors in a report on Tuesday, June 13th. Wolfe Research started coverage on General Motors in a report on Tuesday, June 13th. They set a “market perform” rating and a $33.00 target price for the company. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $36.00 price objective on shares of General Motors in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $38.97.
In related news, insider John J. Quattrone sold 15,000 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $35.00, for a total transaction of $525,000.00. Following the transaction, the insider now directly owns 42,623 shares of the company’s stock, valued at approximately $1,491,805. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patricia F. Russo bought 10,000 shares of General Motors stock in a transaction that occurred on Tuesday, August 1st. The shares were acquired at an average cost of $34.73 per share, for a total transaction of $347,300.00. Following the completion of the transaction, the director now directly owns 12,300 shares in the company, valued at $427,179. The disclosure for this purchase can be found here. Insiders have sold a total of 614,947 shares of company stock worth $22,402,528 over the last ninety days. 0.04% of the stock is currently owned by corporate insiders.
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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