Curbstone Financial Management Corp increased its holdings in shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 9.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,994 shares of the auto manufacturer’s stock after purchasing an additional 1,200 shares during the period. Curbstone Financial Management Corp’s holdings in General Motors were worth $513,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Venturi Wealth Management LLC acquired a new position in shares of General Motors during the first quarter valued at about $25,000. BerganKDV Wealth Management LLC raised its stake in General Motors by 379.2% during the 1st quarter. BerganKDV Wealth Management LLC now owns 714 shares of the auto manufacturer’s stock worth $26,000 after buying an additional 565 shares during the period. Penserra Capital Management LLC boosted its holdings in General Motors by 85.8% in the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after acquiring an additional 283 shares in the last quarter. Carmel Capital Partners LLC acquired a new stake in General Motors in the first quarter valued at approximately $29,000. Finally, Ahrens Investment Partners LLC bought a new stake in shares of General Motors during the first quarter valued at approximately $29,000. 79.62% of the stock is currently owned by institutional investors.
Insider Buying and Selling at General Motors
In other General Motors news, President Mark L. Reuss sold 9,300 shares of the business’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $41.00, for a total value of $381,300.00. Following the sale, the president now directly owns 282,973 shares in the company, valued at $11,601,893. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by corporate insiders.
General Motors Stock Performance
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $44.75 billion during the quarter, compared to the consensus estimate of $42.13 billion. General Motors had a net margin of 6.05% and a return on equity of 16.70%. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 earnings per share. Equities research analysts anticipate that General Motors will post 7.6 EPS for the current fiscal year.
General Motors Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Friday, September 1st will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.36 annualized dividend and a yield of 1.07%. General Motors’s payout ratio is 5.03%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on GM shares. Morgan Stanley increased their target price on General Motors from $38.00 to $41.00 in a report on Thursday, July 6th. Mizuho decreased their target price on shares of General Motors to $40.00 in a research report on Wednesday, July 19th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $86.00 price target on shares of General Motors in a research report on Friday, July 28th. Barclays boosted their price objective on General Motors from $42.00 to $46.00 in a report on Monday, July 10th. Finally, Wells Fargo & Company raised their target price on General Motors from $30.00 to $32.00 in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $50.25.
General Motors Company Profile
General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.
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