Curbstone Financial Management Corp grew its holdings in shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 2.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 14,294 shares of the auto manufacturer’s stock after acquiring an additional 300 shares during the quarter. Curbstone Financial Management Corp’s holdings in General Motors were worth $551,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of GM. BlackRock Inc. raised its holdings in General Motors by 0.7% during the first quarter. BlackRock Inc. now owns 126,529,253 shares of the auto manufacturer’s stock worth $4,641,093,000 after purchasing an additional 819,371 shares in the last quarter. State Street Corp raised its stake in shares of General Motors by 0.7% in the 1st quarter. State Street Corp now owns 56,981,032 shares of the auto manufacturer’s stock worth $2,090,060,000 after buying an additional 383,957 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of General Motors by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 22,349,234 shares of the auto manufacturer’s stock valued at $819,770,000 after buying an additional 7,585,746 shares during the period. Franklin Resources Inc. boosted its stake in General Motors by 60.5% during the first quarter. Franklin Resources Inc. now owns 15,784,315 shares of the auto manufacturer’s stock valued at $578,969,000 after buying an additional 5,948,464 shares in the last quarter. Finally, Morgan Stanley grew its holdings in General Motors by 6.5% during the fourth quarter. Morgan Stanley now owns 15,011,042 shares of the auto manufacturer’s stock worth $504,972,000 after acquiring an additional 921,435 shares during the period. Institutional investors own 79.62% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on GM shares. Wells Fargo & Company raised their price objective on shares of General Motors from $30.00 to $32.00 in a research report on Monday, July 10th. Barclays upped their price target on General Motors from $42.00 to $46.00 in a report on Monday, July 10th. Jefferies Financial Group raised their price objective on General Motors from $37.00 to $39.00 in a research note on Friday, July 7th. Citigroup boosted their target price on General Motors from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, July 12th. Finally, Tigress Financial reissued a “strong-buy” rating and issued a $86.00 price target on shares of General Motors in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.67.
General Motors Stock Performance
Shares of NYSE GM opened at $33.66 on Friday. The business’s 50-day simple moving average is $35.93 and its 200-day simple moving average is $35.50. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.96 and a current ratio of 1.15. General Motors has a 52 week low of $31.10 and a 52 week high of $43.63. The firm has a market cap of $46.31 billion, a price-to-earnings ratio of 4.70, a P/E/G ratio of 0.45 and a beta of 1.39.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The company had revenue of $44.75 billion for the quarter, compared to analyst estimates of $42.13 billion. General Motors had a net margin of 6.05% and a return on equity of 16.70%. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 earnings per share. As a group, equities research analysts expect that General Motors will post 7.59 earnings per share for the current fiscal year.
General Motors Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Friday, September 1st were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Thursday, August 31st. General Motors’s dividend payout ratio is currently 5.03%.
Insider Buying and Selling
In other General Motors news, President Mark L. Reuss sold 9,300 shares of the firm’s stock in a transaction that occurred 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 owns 282,973 shares of the company’s stock, valued at approximately $11,601,893. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is owned by insiders.
About General Motors
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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