JT Stratford LLC Buys 49,174 Shares of General Motors Company (GM)
JT Stratford LLC raised its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 165.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,958 shares of the auto manufacturer’s stock after acquiring an additional 49,174 shares during the quarter. General Motors makes up about 1.9% of JT Stratford LLC’s portfolio, making the stock its 11th biggest position. JT Stratford LLC’s holdings in General Motors were worth $2,758,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GM. Signet Financial Management LLC raised its stake in shares of General Motors by 0.9% during the 2nd quarter. Signet Financial Management LLC now owns 186,453 shares of the auto manufacturer’s stock worth $6,513,000 after acquiring an additional 1,604 shares in the last quarter. Macquarie Group Ltd. boosted its stake in General Motors by 11.0% in the second quarter. Macquarie Group Ltd. now owns 79,000 shares of the auto manufacturer’s stock valued at $2,759,000 after acquiring an additional 7,800 shares in the last quarter. Prudential PLC boosted its stake in General Motors by 5.6% in the second quarter. Prudential PLC now owns 6,530,605 shares of the auto manufacturer’s stock valued at $228,114,000 after acquiring an additional 349,127 shares in the last quarter. Williams Jones & Associates LLC boosted its stake in General Motors by 21.4% in the second quarter. Williams Jones & Associates LLC now owns 92,539 shares of the auto manufacturer’s stock valued at $3,232,000 after acquiring an additional 16,317 shares in the last quarter. Finally, Logan Capital Management Inc. acquired a new stake in General Motors in the second quarter valued at approximately $15,991,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.
GM has been the topic of several research analyst reports. Bank of America Corporation upgraded General Motors from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $57.00 in a research note on Tuesday. Instinet reiterated a “buy” rating and issued a $43.00 price target on shares of General Motors in a research note on Tuesday. Morgan Stanley reissued an “overweight” rating and issued a $43.00 price target on shares of General Motors in a report on Wednesday. Wolfe Research initiated coverage on General Motors in a research note on Tuesday, June 13th. They set a “market perform” rating and a $33.00 price target on the stock. Finally, BidaskClub downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $40.41.
In other General Motors news, insider Alan S. Batey sold 8,144 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $35.57, for a total transaction of $289,682.08. Following the completion of the transaction, the insider now directly owns 66,748 shares in the company, valued at approximately $2,374,226.36. 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 General Motors stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $35.79, for a total transaction of $617,556.45. Following the transaction, the vice president now owns 26,100 shares of the company’s stock, valued at approximately $934,119. The disclosure for this sale can be found here. Insiders have sold a total of 639,947 shares of company stock worth $23,485,128 in the last three months. Corporate insiders own 0.04% of the company’s stock.
Shares of General Motors Company (NYSE GM) traded up 0.81% during mid-day trading on Wednesday, hitting $43.80. The company had a trading volume of 7,868,651 shares. The firm has a market capitalization of $63.83 billion, a P/E ratio of 7.61 and a beta of 1.45. The firm has a 50-day moving average price of $37.74 and a 200 day moving average price of $35.33. General Motors Company has a 12 month low of $30.21 and a 12 month high of $43.87.
General Motors (NYSE:GM) (TSE:GMM.U) last issued 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. 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 for the quarter, compared to analyst estimates of $37.67 billion. During the same period in the prior year, the business posted $1.86 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that General Motors Company will post $6.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Thursday, September 7th. General Motors’s dividend payout ratio (DPR) is 26.48%.
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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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