Beacon Investment Advisory Services Inc. decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 78,545 shares of the auto manufacturer’s stock after selling 5,850 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in General Motors were worth $2,645,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Ruffer LLP bought a new stake in shares of General Motors in the 2nd quarter worth approximately $120,141,000. Natixis boosted its position in shares of General Motors by 780.3% in the 2nd quarter. Natixis now owns 3,170,930 shares of the auto manufacturer’s stock worth $124,935,000 after purchasing an additional 2,810,730 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of General Motors by 20.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,355,956 shares of the auto manufacturer’s stock worth $565,624,000 after purchasing an additional 2,394,922 shares in the last quarter. ING Groep NV boosted its position in shares of General Motors by 11,572.0% in the 2nd quarter. ING Groep NV now owns 1,635,827 shares of the auto manufacturer’s stock worth $64,452,000 after purchasing an additional 1,621,812 shares in the last quarter. Finally, Levin Capital Strategies L.P. boosted its position in shares of General Motors by 31.2% in the 3rd quarter. Levin Capital Strategies L.P. now owns 6,670,952 shares of the auto manufacturer’s stock worth $224,611,000 after purchasing an additional 1,584,628 shares in the last quarter. Hedge funds and other institutional investors own 73.82% of the company’s stock.
Several equities analysts recently issued reports on the company. Citigroup lowered their price objective on General Motors to $60.00 and set a “buy” rating on the stock in a research report on Thursday, July 26th. Zacks Investment Research cut General Motors from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 5th. Morgan Stanley lowered their price objective on General Motors from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, August 17th. Goldman Sachs Group set a $36.00 price objective on General Motors and gave the company a “neutral” rating in a research report on Tuesday, September 11th. Finally, Bank of America reaffirmed a “buy” rating and issued a $60.00 price objective on shares of General Motors in a research report on Wednesday, September 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. General Motors has a consensus rating of “Buy” and a consensus target price of $45.79.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.62. The firm had revenue of $35.79 billion for the quarter, compared to analysts’ expectations of $34.85 billion. General Motors had a return on equity of 25.81% and a net margin of 0.56%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 EPS. As a group, analysts forecast that General Motors will post 6.23 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.52 annualized dividend and a dividend yield of 4.26%. General Motors’s payout ratio is 22.96%.
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About General Motors
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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