Ethic Inc. Raises Holdings in General Motors (NYSE:GM)

Ethic Inc. raised its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 154.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,057 shares of the auto manufacturer's stock after acquiring an additional 40,684 shares during the period. Ethic Inc.'s holdings in General Motors were worth $3,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in General Motors during the 4th quarter valued at $25,000. Crews Bank & Trust purchased a new stake in General Motors during the 4th quarter valued at $26,000. Compass Planning Associates Inc purchased a new stake in General Motors during the 4th quarter valued at $27,000. Duncker Streett & Co. Inc. raised its holdings in General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 498 shares during the period. Finally, Whittier Trust Co. raised its holdings in General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 425 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Down 0.4%

GM traded down $0.22 on Wednesday, hitting $50.24. 8,947,714 shares of the company 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 market cap of $48.30 billion, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The firm has a 50-day moving average price of $46.71 and a two-hundred day moving average price of $50.05.

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, topping the consensus estimate of $2.63 by $0.15. The business had revenue of $44.02 billion during 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 business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.62 EPS. On average, equities analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be issued a $0.15 dividend. This is an increase from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, June 6th. General Motors's payout ratio is presently 8.65%.

General Motors announced that its board has approved a stock buyback plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GM. TD Cowen began coverage on General Motors in a research report on Friday, March 7th. They issued a "buy" rating and a $105.00 price objective on the stock. Wells Fargo & Company reiterated an "underweight" rating on shares of General Motors in a research note on Monday, February 3rd. Cowen began coverage on General Motors in a research note on Thursday, March 6th. They issued a "buy" rating for the company. Wedbush dropped their target price on General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Mizuho dropped their target price on General Motors from $55.00 to $53.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, General Motors presently has an average rating of "Hold" and a consensus price target of $54.28.

General Motors Company 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.