Ensign Peak Advisors Inc Acquires 294,095 Shares of General Motors (NYSE:GM)

Ensign Peak Advisors Inc increased its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 96.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 598,418 shares of the auto manufacturer's stock after purchasing an additional 294,095 shares during the period. Ensign Peak Advisors Inc owned 0.06% of General Motors worth $31,878,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of General Motors during the fourth quarter valued at approximately $25,000. Crews Bank & Trust bought a new stake in General Motors during the fourth quarter worth approximately $26,000. Compass Planning Associates Inc bought a new stake in General Motors during the fourth quarter worth approximately $27,000. Duncker Streett & Co. Inc. raised its holdings in General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock worth $27,000 after purchasing an additional 498 shares in the last quarter. Finally, Whittier Trust Co. raised its holdings in General Motors by 551.9% during the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after purchasing an additional 425 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Down 0.4%

NYSE:GM traded down $0.22 during trading hours on Wednesday, reaching $50.24. 8,947,714 shares of the stock were exchanged, compared to its average volume of 13,424,959. General Motors has a twelve month low of $38.96 and a twelve month 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 $46.71 and a 200 day moving average of $50.05. The stock has a market cap of $48.30 billion, a PE ratio of 8.17, a PEG ratio of 0.67 and a beta of 1.36.

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

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. 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 currently 8.65%.

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have issued reports on GM shares. Deutsche Bank Aktiengesellschaft cut General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target on the stock. in a report on Monday, April 14th. TD Cowen began coverage on shares of General Motors in a research note on Friday, March 7th. They set a "buy" rating and a $105.00 price target on the stock. JPMorgan Chase & Co. lowered their target price 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. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a report on Monday, May 5th. Finally, StockNews.com lowered shares of General Motors from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $54.28.

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.