JT Stratford LLC lowered its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 22.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,754 shares of the auto manufacturer’s stock after selling 18,037 shares during the period. General Motors accounts for 1.6% of JT Stratford LLC’s holdings, making the stock its 20th largest holding. JT Stratford LLC’s holdings in General Motors were worth $2,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of GM. Franklin Resources Inc. boosted its position in General Motors by 26.7% in the fourth quarter. Franklin Resources Inc. now owns 21,868,641 shares of the auto manufacturer’s stock valued at $896,398,000 after buying an additional 4,611,023 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in General Motors by 154.4% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,923,200 shares of the auto manufacturer’s stock valued at $242,792,000 after buying an additional 3,594,700 shares in the last quarter. Renaissance Technologies LLC boosted its position in General Motors by 171.3% in the fourth quarter. Renaissance Technologies LLC now owns 5,310,000 shares of the auto manufacturer’s stock valued at $217,657,000 after buying an additional 3,352,900 shares in the last quarter. Millennium Management LLC boosted its position in General Motors by 78.1% in the fourth quarter. Millennium Management LLC now owns 6,810,691 shares of the auto manufacturer’s stock valued at $279,170,000 after buying an additional 2,986,293 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in General Motors by 4,992.3% in the fourth quarter. SG Americas Securities LLC now owns 2,962,746 shares of the auto manufacturer’s stock valued at $121,443,000 after buying an additional 2,904,565 shares in the last quarter. Hedge funds and other institutional investors own 73.54% of the company’s stock.
In other General Motors news, Director Retiree Medical Benefits T. Uaw sold 40,000,000 shares of General Motors stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $39.71, for a total value of $1,588,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barry L. Engle II sold 50,443 shares of General Motors stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $2,269,935.00. Following the completion of the sale, the insider now directly owns 57,091 shares of the company’s stock, valued at $2,569,095. The disclosure for this sale can be found here. Insiders have sold 40,289,848 shares of company stock valued at $1,600,694,061 in the last three months. 0.04% of the stock is owned by insiders.
General Motors stock opened at $37.94 on Monday. General Motors has a 52 week low of $31.92 and a 52 week high of $46.76. The firm has a market cap of $53,231.45, a price-to-earnings ratio of -13.13, a P/E/G ratio of 0.73 and a beta of 1.60. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.76 and a current ratio of 0.89.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.31. General Motors had a negative net margin of 2.58% and a positive return on equity of 22.86%. The business had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $34.28 billion. During the same quarter last year, the firm earned $1.28 earnings per share. General Motors’s quarterly revenue was down 7.7% on a year-over-year basis. analysts expect that General Motors will post 6.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, March 8th. General Motors’s dividend payout ratio is presently -52.59%.
A number of equities analysts have recently commented on the stock. Vetr lowered shares of General Motors from a “hold” rating to a “sell” rating and set a $40.25 price target on the stock. in a report on Tuesday, February 27th. Goldman Sachs set a $33.00 price target on shares of General Motors and gave the stock a “sell” rating in a report on Tuesday, February 6th. Royal Bank of Canada upgraded shares of General Motors from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $51.00 to $52.00 in a report on Tuesday, December 19th. Barclays reiterated a “buy” rating and set a $60.00 price target on shares of General Motors in a report on Sunday, January 21st. Finally, Bank of America lifted their price target on shares of General Motors from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $44.79.
COPYRIGHT VIOLATION NOTICE: “General Motors (GM) Shares Sold by JT Stratford LLC” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this story can be viewed at https://ledgergazette.com/2018/03/19/general-motors-gm-shares-sold-by-jt-stratford-llc.html.
General Motors 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.
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.