Balasa Dinverno & Foltz LLC Reduces Stake in General Motors Company (NYSE:GM)

Balasa Dinverno & Foltz LLC reduced its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 20.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,584 shares of the auto manufacturer’s stock after selling 9,750 shares during the period. Balasa Dinverno & Foltz LLC’s holdings in General Motors were worth $1,348,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Wilsey Asset Management Inc. boosted its stake in shares of General Motors by 2.5% in the first quarter. Wilsey Asset Management Inc. now owns 258,800 shares of the auto manufacturer’s stock valued at $9,166,000 after buying an additional 6,343 shares during the last quarter. Raymond James Trust N.A. boosted its stake in General Motors by 37.1% in the first quarter. Raymond James Trust N.A. now owns 19,331 shares of the auto manufacturer’s stock worth $684,000 after buying an additional 5,231 shares during the last quarter. CHURCHILL MANAGEMENT Corp boosted its stake in General Motors by 3.3% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 627,106 shares of the auto manufacturer’s stock worth $22,174,000 after buying an additional 19,838 shares during the last quarter. Denali Advisors LLC boosted its stake in General Motors by 20.3% in the first quarter. Denali Advisors LLC now owns 427,800 shares of the auto manufacturer’s stock worth $15,127,000 after buying an additional 72,120 shares during the last quarter. Finally, Trust Co boosted its stake in General Motors by 8.0% in the fourth quarter. Trust Co now owns 27,731 shares of the auto manufacturer’s stock worth $966,000 after buying an additional 2,055 shares during the last quarter. 75.56% of the stock is owned by hedge funds and other institutional investors.

Shares of General Motors Company (NYSE GM) opened at 34.83 on Friday. The stock has a market cap of $50.75 billion, a P/E ratio of 6.06 and a beta of 1.45. General Motors Company has a 12 month low of $30.13 and a 12 month high of $38.55. The stock’s 50 day moving average is $35.49 and its 200 day moving average is $35.08. General Motors also saw unusually large options trading on Wednesday. Traders bought 13,561 call options on the company. This is an increase of approximately 162% compared to the average volume of 5,175 call options.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The business had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. During the same quarter in the prior year, the firm posted $1.86 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts predict that General Motors Company will post $6.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.36%. General Motors’s dividend payout ratio (DPR) is currently 26.48%.

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GM has been the subject of a number of research analyst reports. Nomura reiterated a “buy” rating and issued a $47.00 price objective on shares of General Motors in a research note on Tuesday, May 2nd. BidaskClub upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada restated a “hold” rating and set a $37.00 price target on shares of General Motors in a research report on Friday, July 14th. ValuEngine upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 28th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of General Motors in a research report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $39.26.

In other General Motors news, insider Alan S. Batey sold 8,144 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $35.57, for a total value of $289,682.08. Following the completion of the transaction, the insider now directly owns 66,748 shares in the company, valued at $2,374,226.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charles K. Stevens III sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $35.80, for a total value of $572,800.00. Following the completion of the transaction, the insider now owns 77,052 shares of the company’s stock, valued at $2,758,461.60. The disclosure for this sale can be found here. Insiders sold 377,145 shares of company stock valued at $13,116,886 over the last 90 days. Corporate insiders own 0.04% of the company’s stock.

About General Motors

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.

Institutional Ownership by Quarter for General Motors (NYSE:GM)

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