Paragon Capital Management Ltd acquired a new position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,786 shares of the auto manufacturer’s stock, valued at approximately $237,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of General Motors during the first quarter worth $103,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of General Motors during the first quarter worth about $106,000. FNY Managed Accounts LLC bought a new stake in shares of General Motors during the first quarter worth about $107,000. SRS Capital Advisors Inc. increased its stake in shares of General Motors by 171.9% in the first quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the auto manufacturer’s stock worth $182,000 after buying an additional 3,262 shares during the period. Finally, North Star Investment Management Corp. increased its stake in shares of General Motors by 0.8% in the first quarter. North Star Investment Management Corp. now owns 5,215 shares of the auto manufacturer’s stock worth $184,000 after buying an additional 42 shares during the period. Institutional investors own 75.56% of the company’s stock.
General Motors Company (NYSE:GM) traded down 0.49% on Friday, reaching $34.83. The company’s stock had a trading volume of 7,193,463 shares. The firm’s 50 day moving average price is $35.49 and its 200-day moving average price is $35.08. General Motors Company has a 52 week low of $30.13 and a 52 week high of $38.55. The company has a market capitalization of $50.75 billion, a price-to-earnings ratio of 6.06 and a beta of 1.45. General Motors also saw unusually large options trading on Wednesday. Stock traders bought 13,561 call options on the company. This is an increase of approximately 162% compared to the typical daily volume of 5,175 call options.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. During the same quarter last year, the business posted $1.86 EPS. General Motors’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts predict that General Motors Company will post $6.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s dividend payout ratio (DPR) is 26.48%.
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GM has been the subject of a number of recent research reports. Zacks Investment Research raised General Motors from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Wednesday, June 21st. Nomura reaffirmed a “buy” rating and issued a $47.00 target price on shares of General Motors in a research note on Tuesday, May 2nd. Bank of America Corporation reaffirmed a “buy” rating and issued a $40.00 target price (down from $44.00) on shares of General Motors in a research note on Friday, June 16th. BidaskClub raised General Motors from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $36.00 target price on shares of General Motors in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. General Motors currently has an average rating of “Buy” and an average target price of $39.26.
In related news, insider Charles K. Stevens III sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $35.80, for a total value of $572,800.00. Following the sale, the insider now owns 77,052 shares of the company’s stock, valued at approximately $2,758,461.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 sale, the insider now directly owns 66,748 shares in the company, valued at approximately $2,374,226.36. The disclosure for this sale can be found here. In the last three months, insiders sold 377,145 shares of company stock worth $13,116,886. Company insiders own 0.04% of the company’s stock.
General Motors Company Profile
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.
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