Deprince Race & Zollo Inc. Reduces Stake in General Motors (NYSE:GM)

Deprince Race & Zollo Inc. lessened its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 10.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 462,278 shares of the auto manufacturer's stock after selling 52,578 shares during the period. Deprince Race & Zollo Inc.'s holdings in General Motors were worth $24,626,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in General Motors by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock valued at $1,559,380,000 after acquiring an additional 1,170,816 shares during the last quarter. Geode Capital Management LLC increased its position in shares of General Motors by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer's stock valued at $1,264,567,000 after purchasing an additional 176,436 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of General Motors by 1.7% during 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 buying an additional 228,408 shares in the last quarter. Norges Bank bought a new stake in General Motors in the 4th quarter worth approximately $592,321,000. Finally, Northern Trust Corp boosted its stake in General Motors by 8.1% in 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 in the last quarter. Institutional investors own 92.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GM shares. Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a report on Monday, May 5th. Cowen began coverage on shares of General Motors in a research report on Thursday, March 6th. They set a "buy" rating for the company. TD Cowen initiated coverage on General Motors in a research note on Friday, March 7th. They set a "buy" rating and a $105.00 price objective on the stock. Piper Sandler boosted their target price on General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Finally, The Goldman Sachs Group reduced their price target on General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $54.28.

General Motors Trading Up 0.3 %

Shares of NYSE GM traded up $0.16 during trading on Friday, hitting $47.51. 8,581,366 shares of the company were exchanged, compared to its average volume of 13,447,485. The company has a fifty day moving average price of $46.63 and a 200-day moving average price of $50.08. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The firm has a market capitalization of $45.68 billion, a PE ratio of 7.73, a P/E/G ratio of 0.67 and a beta of 1.36. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24.

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

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.26%. This is an increase from General Motors's previous quarterly dividend of $0.12. General Motors's payout ratio is presently 8.65%.

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

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.