Collar Capital Management LLC Makes New $2.44 Million Investment in General Motors (NYSE:GM)

Collar Capital Management LLC purchased a new stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 45,882 shares of the auto manufacturer's stock, valued at approximately $2,444,000. General Motors makes up about 2.0% of Collar Capital Management LLC's investment portfolio, making the stock its 16th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in shares of General Motors by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock worth $1,559,380,000 after acquiring an additional 1,170,816 shares during the period. Geode Capital Management LLC lifted its position in shares of General Motors by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer's stock worth $1,264,567,000 after purchasing an additional 176,436 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of General Motors by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock valued at $749,382,000 after purchasing an additional 228,408 shares during the last quarter. Norges Bank acquired a new stake in shares of General Motors during the fourth quarter worth $592,321,000. Finally, Northern Trust Corp raised its stake in General Motors by 8.1% during the fourth quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock worth $582,251,000 after buying an additional 822,454 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wedbush decreased their price target on General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. JPMorgan Chase & Co. lowered their target price on General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Mizuho reduced their price objective on shares of General Motors from $55.00 to $53.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. UBS Group dropped their target price on shares of General Motors from $51.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, TD Cowen began coverage on shares of General Motors in a report on Friday, March 7th. They issued a "buy" rating and a $105.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $54.22.

General Motors Stock Performance

Shares of GM stock opened at $45.45 on Wednesday. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a 50-day moving average of $46.66 and a 200-day moving average of $50.19. The company has a market cap of $43.92 billion, a P/E ratio of 7.39, a P/E/G ratio of 0.67 and a beta of 1.36.

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

General Motors Increases Dividend

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

General Motors announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

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.

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