First Trust Advisors LP trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 776,498 shares of the auto manufacturer’s stock after selling 57,646 shares during the period. First Trust Advisors LP’s holdings in General Motors were worth $31,829,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Intl Fcstone Inc. acquired a new position in shares of General Motors in the second quarter valued at $259,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of General Motors by 2.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 100,012 shares of the auto manufacturer’s stock valued at $4,041,000 after purchasing an additional 2,240 shares during the last quarter. Oakbrook Investments LLC acquired a new position in shares of General Motors in the third quarter valued at $2,120,000. Fox Run Management L.L.C. acquired a new position in shares of General Motors in the third quarter valued at $1,518,000. Finally, Loeb Partners Corp acquired a new position in shares of General Motors in the third quarter valued at $566,000. Institutional investors and hedge funds own 73.74% of the company’s stock.
In other news, CFO Charles K. Stevens III sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $40.88, for a total value of $1,430,800.00. Following the completion of the transaction, the chief financial officer now owns 26,052 shares of the company’s stock, valued at $1,065,005.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark L. Reuss sold 165,944 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $41.85, for a total value of $6,944,756.40. Following the completion of the transaction, the executive vice president now directly owns 369,878 shares of the company’s stock, valued at approximately $15,479,394.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 378,252 shares of company stock valued at $16,094,534. Insiders own 0.04% of the company’s stock.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.31. The firm had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $34.28 billion. General Motors had a positive return on equity of 22.86% and a negative net margin of 2.58%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 earnings per share. sell-side analysts forecast that General Motors will post 6.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.73%. The ex-dividend date is Thursday, March 8th. General Motors’s payout ratio is -52.59%.
A number of equities research analysts have recently issued reports on GM shares. Piper Jaffray Companies set a $51.00 target price on shares of General Motors and gave the company a “buy” rating in a research report on Tuesday, October 24th. Morgan Stanley cut shares of General Motors from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $46.48 to $43.00 in a research report on Wednesday, October 25th. Royal Bank of Canada boosted their target price on shares of General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. Craig Hallum set a $45.00 target price on shares of General Motors and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, BMO Capital Markets raised shares of General Motors to a “market perform” rating and boosted their target price for the company from $41.00 to $48.00 in a research report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $44.44.
COPYRIGHT VIOLATION NOTICE: This article was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.chaffeybreeze.com/2018/02/21/general-motors-gm-position-trimmed-by-first-trust-advisors-lp.html.
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.
Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM) (TSE:GMM.U).
Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.