Beaconlight Capital LLC Grows Stock Position in General Motors (NYSE:GM)

Beaconlight Capital LLC increased its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 15.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,526 shares of the auto manufacturer's stock after buying an additional 26,381 shares during the quarter. General Motors accounts for 3.9% of Beaconlight Capital LLC's portfolio, making the stock its 9th largest position. Beaconlight Capital LLC's holdings in General Motors were worth $10,522,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. World Investment Advisors LLC bought a new stake in General Motors during the 3rd quarter valued at $237,000. Tidal Investments LLC raised its stake in shares of General Motors by 44.7% during the third quarter. Tidal Investments LLC now owns 65,389 shares of the auto manufacturer's stock valued at $2,932,000 after acquiring an additional 20,206 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of General Motors by 125.0% during the third quarter. Synovus Financial Corp now owns 45,803 shares of the auto manufacturer's stock worth $2,054,000 after purchasing an additional 25,443 shares during the period. Principal Financial Group Inc. grew its stake in shares of General Motors by 1.1% in the third quarter. Principal Financial Group Inc. now owns 1,268,096 shares of the auto manufacturer's stock worth $56,861,000 after purchasing an additional 13,206 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of General Motors by 104.7% in the fourth quarter. Versant Capital Management Inc now owns 1,466 shares of the auto manufacturer's stock worth $78,000 after purchasing an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Stock Up 0.2 %

Shares of NYSE GM traded up $0.07 during midday trading on Tuesday, hitting $45.45. The stock had a trading volume of 9,631,551 shares, compared to its average volume of 13,402,250. The business's 50 day moving average is $46.66 and its 200-day moving average is $50.19. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The company has a market cap of $43.92 billion, a P/E ratio of 7.39, a PEG ratio of 0.67 and a beta of 1.36.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.15. The business had revenue of $44.02 billion for the quarter, compared to analysts' expectations of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.62 EPS. As a group, analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors announced that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be given a $0.15 dividend. This is a positive change from General Motors's previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.32%. General Motors's payout ratio is 8.65%.

Analyst Ratings Changes

Several equities research analysts have weighed in on GM shares. Cowen assumed coverage on General Motors in a report on Thursday, March 6th. They issued a "buy" rating for the company. UBS Group cut their price target on shares of General Motors from $51.00 to $50.00 and set a "neutral" rating on the stock in a report on Friday. JPMorgan Chase & Co. reduced their price objective on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Piper Sandler raised their target price on shares of General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Finally, Deutsche Bank Aktiengesellschaft cut shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target on the stock. in a research report on Monday, April 14th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, General Motors currently has a consensus rating of "Hold" and an average target price of $54.22.

About General Motors

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.