Selway Asset Management Lowers stake in General Motors Company (GM)

General Motors Company (GM) : Selway Asset Management reduced its stake in General Motors Company by 3.19% during the most recent quarter end. The investment management company now holds a total of 30,397 shares of General Motors Company which is valued at $919,205 after selling 1,000 shares in General Motors Company , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.General Motors Company makes up approximately 0.56% of Selway Asset Management’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in GM by selling 1,517 shares or 0.37% in the most recent quarter. The Hedge Fund company now holds 410,996 shares of GM which is valued at $12,428,519. General Motors Company makes up approx 0.16% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Anchor Capital Advisors reduced its stake in GM by selling 19,000 shares or 10.01% in the most recent quarter. The Hedge Fund company now holds 170,800 shares of GM which is valued at $5,164,992. General Motors Company makes up approx 0.13% of Anchor Capital Advisors’s portfolio.Daiwa Securities Group reduced its stake in GM by selling 74,882 shares or 17.48% in the most recent quarter. The Hedge Fund company now holds 353,489 shares of GM which is valued at $11,318,718. General Motors Company makes up approx 0.07% of Daiwa Securities Group’s portfolio.

General Motors Company opened for trading at $30.92 and hit $31.06 on the upside on Monday, eventually ending the session at $30.88, with a gain of 0.26% or 0.08 points. The heightened volatility saw the trading volume jump to 1,04,70,883 shares. Company has a market cap of $48,232 M.

On the company’s financial health, General Motors Company reported $1.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.35 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $1.51. The company had revenue of $42400.00 million for the quarter, compared to analysts expectations of $37319.22 million. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS.

Investors should note that on Jul 20, 2016, General Motors Company announced a cash dividend of $0.3800. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Sep 23, 2016.

Many Wall Street Analysts have commented on General Motors Company. Company shares were Reiterated by RBC Capital Mkts on Jul 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 34 from a previous price target of $32 .Piper Jaffray Initiated General Motors Company on Jun 10, 2016 to “Overweight”, Price Target of the shares are set at $41.Company shares were Upgraded by Morgan Stanley on May 6, 2016 to ” Equal-Weight”, Firm has raised the Price Target to $ 29 from a previous price target of $28 .

General Motors Company (General Motors) designs builds and sells cars trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company Inc. (GM Financial). The Company’s four automotive segments include GM North America (GMNA) GM Europe (GME) GM International Operations (GMIO) and GM South America (GMSA). The Company also sells cars and trucks to fleet customers including daily rental car companies commercial fleet customers leasing companies and governments. The Company offers 13 FlexFuel vehicles in the United States for the 2015 model year plus an additional four models to fleet and commercial customers capable of operating on gasoline E85 ethanol or any combination of the two.

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