Richelieu Gestion SA Acquires 7,629 Shares of General Motors (NYSE:GM)

Richelieu Gestion SA boosted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 12.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,721 shares of the auto manufacturer’s stock after purchasing an additional 7,629 shares during the quarter. General Motors comprises 2.3% of Richelieu Gestion SA’s investment portfolio, making the stock its 21st biggest position. Richelieu Gestion SA’s holdings in General Motors were worth $2,727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of GM. Norges Bank acquired a new position in General Motors in the fourth quarter valued at about $493,248,000. Arrowstreet Capital Limited Partnership raised its stake in General Motors by 51.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 22,349,234 shares of the auto manufacturer’s stock worth $819,770,000 after acquiring an additional 7,585,746 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in General Motors by 80.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,687,738 shares of the auto manufacturer’s stock worth $538,747,000 after acquiring an additional 6,548,022 shares in the last quarter. Franklin Resources Inc. raised 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 worth $578,969,000 after acquiring an additional 5,948,464 shares in the last quarter. Finally, Providence Capital Advisors LLC acquired a new position in General Motors during the first quarter worth about $125,200,000. Institutional investors and hedge funds own 79.62% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the subject of several research analyst reports. UBS Group raised General Motors from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $41.00 to $44.00 in a research note on Wednesday, September 13th. Bank of America upped their price objective on General Motors from $72.00 to $75.00 in a research note on Wednesday, July 26th. The Goldman Sachs Group upped their price objective on General Motors from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Barclays upped their price objective on General Motors from $42.00 to $46.00 in a research note on Monday, July 10th. Finally, Tigress Financial reiterated a “strong-buy” rating and issued a $86.00 target price on shares of General Motors in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Insider Buying and Selling

In related news, President Mark L. Reuss sold 9,300 shares of the 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 transaction, the president now directly owns 282,973 shares in the company, valued at approximately $11,601,893. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.54% of the stock is owned by company insiders.

General Motors Trading Down 1.5 %

Shares of General Motors stock traded down $0.51 on Monday, reaching $33.44. 4,975,532 shares of the company’s stock were exchanged, compared to its average volume of 14,154,022. The company has a market capitalization of $46.01 billion, a P/E ratio of 4.72, a price-to-earnings-growth ratio of 0.45 and a beta of 1.39. General Motors has a 52 week low of $31.10 and a 52 week high of $43.63. The firm’s 50-day moving average is $35.70 and its two-hundred day moving average is $35.40. 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 (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results 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. General Motors had a return on equity of 16.70% and a net margin of 6.05%. The firm had revenue of $44.75 billion for the quarter, compared to analysts’ expectations of $42.13 billion. During the same period in the prior year, the business earned $1.14 EPS. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. Sell-side analysts predict that General Motors will post 7.59 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Friday, September 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, August 31st. General Motors’s dividend payout ratio is currently 5.03%.

General Motors 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.