Parametric Portfolio Associates LLC decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 2.9% during the 2nd quarter, Holdings Channel reports. The fund owned 5,280,441 shares of the auto manufacturer’s stock after selling 157,413 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in General Motors were worth $203,455,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Next Capital Management LLC acquired a new position in General Motors during the 2nd quarter worth approximately $25,000. Trust Co. of Vermont raised its position in General Motors by 101.2% in the second quarter. Trust Co. of Vermont now owns 666 shares of the auto manufacturer’s stock worth $26,000 after acquiring an additional 335 shares in the last quarter. Advisors Preferred LLC purchased a new position in General Motors in the second quarter worth $26,000. Webster Bank N. A. lifted its holdings in General Motors by 253.5% in the second quarter. Webster Bank N. A. now owns 700 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 502 shares during the period. Finally, Bremer Bank National Association acquired a new stake in General Motors in the first quarter valued at $37,000. Institutional investors and hedge funds own 77.36% of the company’s stock.
Shares of NYSE:GM traded down $0.27 during midday trading on Wednesday, hitting $39.31. 5,025,274 shares of the stock were exchanged, compared to its average volume of 6,028,122. The stock has a market cap of $56.51 billion, a P/E ratio of 6.01, a PEG ratio of 0.65 and a beta of 1.42. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 1.56. General Motors has a twelve month low of $30.56 and a twelve month high of $41.90. The company has a 50 day moving average price of $38.50 and a 200-day moving average price of $38.03.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Thursday, September 5th. General Motors’s payout ratio is currently 23.24%.
GM has been the topic of several research analyst reports. Evercore ISI set a $50.00 target price on shares of General Motors and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Nomura set a $38.00 price target on shares of General Motors and gave the company a “hold” rating in a report on Wednesday, August 7th. Credit Suisse Group started coverage on shares of General Motors in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 price objective for the company. ValuEngine downgraded shares of General Motors from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, Citigroup boosted their price objective on shares of General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. General Motors has a consensus rating of “Buy” and an average target price of $47.62.
In other General Motors news, EVP Matthew Tsien sold 83,067 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $39.50, for a total transaction of $3,281,146.50. Following the sale, the executive vice president now owns 84,667 shares in the company, valued at approximately $3,344,346.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Mark L. Reuss sold 275,944 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $40.03, for a total value of $11,046,038.32. Following the transaction, the president now directly owns 479,413 shares of the company’s stock, valued at approximately $19,190,902.39. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
About General Motors
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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