Goldman Sachs Group Inc. Has $444.30 Million Stock Position in General Motors Company (NYSE:GM)

Key Points

• Goldman Sachs Group Inc. increased its stake in General Motors by 12.1% during the first quarter, owning approximately 0.98% of the company worth $444 million.
• General Motors reported earnings of $2.53 EPS for the latest quarter, surpassing analysts' expectations and achieving a revenue of $47.12 billion.
• The company announced a quarterly dividend of $0.15 per share, representing an annualized yield of 1.1%, with the ex-dividend date set for September 5th.

Goldman Sachs Group Inc. increased its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 12.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,447,099 shares of the auto manufacturer's stock after purchasing an additional 1,020,386 shares during the quarter. Goldman Sachs Group Inc. owned 0.98% of General Motors worth $444,297,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Operose Advisors LLC raised its holdings in General Motors by 18.7% in the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock valued at $75,000 after buying an additional 223 shares during the period. Bessemer Group Inc. boosted its holdings in shares of General Motors by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock valued at $2,856,000 after acquiring an additional 226 shares during the period. Hohimer Wealth Management LLC boosted its holdings in shares of General Motors by 0.3% during the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock valued at $3,310,000 after acquiring an additional 230 shares during the period. HHM Wealth Advisors LLC boosted its holdings in shares of General Motors by 14.4% during the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer's stock valued at $86,000 after acquiring an additional 232 shares during the period. Finally, Aaron Wealth Advisors LLC raised its stake in shares of General Motors by 3.6% during the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock valued at $316,000 after purchasing an additional 235 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the transaction, the executive vice president directly owned 8,513 shares in the company, valued at $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.54% of the company's stock.

General Motors Stock Up 0.1%

Shares of NYSE GM traded up $0.08 during mid-day trading on Tuesday, reaching $54.09. 2,806,560 shares of the company's stock were exchanged, compared to its average volume of 11,981,252. The firm has a market capitalization of $51.50 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 1.13 and a beta of 1.36. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The business has a fifty day simple moving average of $51.08 and a 200 day simple moving average of $48.78. General Motors Company has a twelve month low of $41.60 and a twelve month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. The business had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. General Motors's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.06 EPS. As a group, equities analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 5th. General Motors's dividend payout ratio is 9.52%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GM shares. Royal Bank Of Canada restated an "outperform" rating on shares of General Motors in a research note on Thursday, July 24th. Industrial Alliance Securities set a $70.00 price objective on General Motors in a report on Friday, July 11th. Citigroup upped their target price on General Motors from $59.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Wedbush reissued an "outperform" rating and issued a $55.00 price objective on shares of General Motors in a research report on Wednesday, July 23rd. Finally, UBS Group upped their target price on General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $57.53.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.