Ballentine Partners LLC lifted its holdings in General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,000 shares of the auto manufacturer’s stock after acquiring an additional 390 shares during the period. Ballentine Partners LLC’s holdings in General Motors were worth $505,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in General Motors by 4.0% in the third quarter. Vanguard Group Inc. now owns 111,810,845 shares of the auto manufacturer’s stock valued at $3,588,010,000 after purchasing an additional 4,251,190 shares in the last quarter. State Street Corp lifted its holdings in shares of General Motors by 1.0% during the 3rd quarter. State Street Corp now owns 57,792,618 shares of the auto manufacturer’s stock worth $1,854,565,000 after acquiring an additional 572,357 shares during the period. Bank of New York Mellon Corp boosted its position in shares of General Motors by 13.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 15,240,329 shares of the auto manufacturer’s stock worth $489,063,000 after acquiring an additional 1,814,943 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of General Motors by 1.7% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,486,160 shares of the auto manufacturer’s stock worth $368,591,000 after acquiring an additional 194,444 shares in the last quarter. Finally, Putnam Investments LLC increased its stake in General Motors by 12.0% in the third quarter. Putnam Investments LLC now owns 11,011,984 shares of the auto manufacturer’s stock valued at $353,374,000 after acquiring an additional 1,177,413 shares during the last quarter. Institutional investors and hedge funds own 78.92% of the company’s stock.
Insiders Place Their Bets
In other news, EVP Stephen K. Carlisle sold 18,000 shares of General Motors stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $41.97, for a total value of $755,460.00. Following the completion of the sale, the executive vice president now owns 46,170 shares in the company, valued at approximately $1,937,754.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Stephen K. Carlisle sold 18,000 shares of the stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $41.97, for a total transaction of $755,460.00. Following the transaction, the executive vice president now owns 46,170 shares of the company’s stock, valued at approximately $1,937,754.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gerald Johnson sold 15,743 shares of the business’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $42.65, for a total value of $671,438.95. Following the completion of the sale, the executive vice president now directly owns 71,209 shares of the company’s stock, valued at $3,037,063.85. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.
General Motors Stock Performance
General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last announced its earnings results on Tuesday, January 31st. The auto manufacturer reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.44. The business had revenue of $43.11 billion during the quarter, compared to the consensus estimate of $40.62 billion. General Motors had a net margin of 6.34% and a return on equity of 16.08%. General Motors’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.35 earnings per share. Research analysts anticipate that General Motors will post 6.21 earnings per share for the current year.
General Motors Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Friday, March 3rd were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.36 annualized dividend and a yield of 1.04%. General Motors’s dividend payout ratio is currently 5.87%.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Bank of America cut their target price on General Motors from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, February 1st. Berenberg Bank lowered General Motors from a “buy” rating to a “hold” rating and reduced their price objective for the company from $45.00 to $41.00 in a research note on Monday, January 30th. JPMorgan Chase & Co. decreased their target price on General Motors from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 25th. StockNews.com began coverage on shares of General Motors in a report on Thursday, March 16th. They issued a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Motors from $33.00 to $36.00 in a report on Wednesday, February 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors has an average rating of “Moderate Buy” and an average target price of $49.69.
About General Motors
General Motors Co engages in the designing, manufacturing, and selling of trucks, crossovers, cars, and automobile parts and in providing software-enabled services and subscriptions. It operates through the following segments: GMNA, GMI, Cruise, and GM Financial. The company was founded by William C.
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