Earnings in the fourth quarter came in at $2.0 billion, compared with a loss of $5.2 billion in the year-ago period due to a large one-time accounting item tied to United States tax reform. The institutional investor owned 314,204 shares of the auto manufacturer's stock after purchasing an additional 8,602 shares during the quarter. Vigilant Capital Management LLC acquired a new position in shares of General Motors during the fourth quarter worth $43,000. But it still means big profit-sharing checks for about 46,500 union workers in the US, including those at GM's plant in Lordstown.
The largest USA auto maker in terms of sales said pretax profit excluding one-time factors for the October-to-December period was $2.8 billion, or $1.43 a share, surpassing the average analysts' estimate of $1.24 a share. Finally, Ontario Teachers Pension Plan Board increased its holdings in General Motors by 62.6% in the 3rd quarter. The legal version of this piece can be viewed at https://www.fairfieldcurrent.com/news/2019/02/06/general-motors-gm-shares-bought-by-providence-capital-advisors-llc.html. BerganKDV Wealth Management LLC now owns 1,726 shares of the auto manufacturer's stock valued at $58,000 after acquiring an additional 300 shares during the last quarter. MML Investors Services LLC increased its holdings in General Motors by 67.4% in the 3rd quarter. Vanguard Group Inc now owns 96,849,509 shares of the auto manufacturer's stock worth $3,260,923,000 after buying an additional 2,699,178 shares in the last quarter. Following these latest developments, around 0.70% of Square, Inc. stocks are owned by institutional investors and hedge funds.
Total North America vehicle sales dipped 4.2% to 917,000 but GM's bottom line was boosted by pickup truck sales, which are a profitable and growing share of its product lineup. The company had a trading volume of 5,815,543 shares, compared to its average volume of 11,236,711. On the whole, the company's goal is to get rid of at least 15 percent of its workforce which is equivalent to 8,000 people. General Motors has a 12-month low of $30.56 and a 12-month high of $45.00.
General Motors announced they will pay a profit share of up to $10,000 to more than 46,000 USA hourly employees, according to a press release this morning. The auto manufacturer reported $1.43 EPS for the quarter, topping the consensus estimate of $1.21 by $0.22. The company had revenue of $38.40 billion during the quarter, compared to the consensus estimate of $36.31 billion. General Motors had a return on equity of 25.81% and a net margin of 0.56%. General Motors Company has the potential to record 5.89 EPS for the current fiscal year, according to equities analysts. During the same quarter previous year, the business posted $1.65 earnings per share. The US$6.54 a share for 2018 earnings was far better than the original guidance of US$6 thanks in large part to pickup sales, Chief Financial Officer Dhivya Suryadevara said on a conference call.