Pacer Advisors Inc. Reduces Holdings in General Motors Company (NYSE:GM)

Key Points

• Pacer Advisors Inc. has sold 127,429 shares of General Motors, reducing its stake by 70.5%, and now holds 53,242 shares valued at approximately $2,504,000.
• General Motors reported earnings of $2.53 per share, surpassing analysts' expectations and generating revenue of $47.12 billion for the quarter.
• The company has announced a quarterly dividend of $0.15 per share, equating to an annualized yield of 1.15% with a payout ratio of 9.52%.

Pacer Advisors Inc. decreased its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 70.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,242 shares of the auto manufacturer's stock after selling 127,429 shares during the quarter. Pacer Advisors Inc.'s holdings in General Motors were worth $2,504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of General Motors during the fourth quarter worth $25,404,000. Cassia Capital Partners LLC boosted its stake in General Motors by 63.0% in the first quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock valued at $879,000 after acquiring an additional 7,221 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in shares of General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after buying an additional 1,712,033 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of General Motors during the first quarter worth about $312,000. Finally, Brown Advisory Inc. boosted its stake in shares of General Motors by 55.9% during the first quarter. Brown Advisory Inc. now owns 17,651 shares of the auto manufacturer's stock worth $830,000 after buying an additional 6,330 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Trading Down 1.5%

Shares of GM traded down $0.82 during mid-day trading on Friday, reaching $52.52. The company had a trading volume of 9,539,407 shares, compared to its average volume of 10,055,104. The stock has a market cap of $50.00 billion, a price-to-earnings ratio of 8.34, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35. The firm has a fifty day simple moving average of $50.55 and a 200-day simple moving average of $48.81. General Motors Company has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42.

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

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio (DPR) is currently 9.52%.

Analyst Ratings Changes

GM has been the subject of several recent research reports. Benchmark initiated coverage on shares of General Motors in a research note on Monday, July 21st. They set a "buy" rating and a $65.00 target price for the company. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a report on Friday, July 11th. Mizuho increased their price target on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Royal Bank Of Canada reissued an "outperform" rating on shares of General Motors in a report on Thursday, July 24th. Finally, Wedbush reissued an "outperform" rating and set a $55.00 price target on shares of General Motors in a report on Wednesday, July 23rd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, General Motors presently has a consensus rating of "Hold" and an average target price of $56.35.

General Motors 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.