General Motors Company (NYSE:GM) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 24.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,377,474 shares of the auto manufacturer's stock after purchasing an additional 273,359 shares during the period. Allspring Global Investments Holdings LLC owned about 0.14% of General Motors worth $65,099,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of General Motors by 11.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 215,873 shares of the auto manufacturer's stock valued at $10,077,000 after purchasing an additional 21,596 shares in the last quarter. Achmea Investment Management B.V. boosted its position in General Motors by 50.8% during the 1st quarter. Achmea Investment Management B.V. now owns 488,715 shares of the auto manufacturer's stock valued at $22,984,000 after acquiring an additional 164,541 shares in the last quarter. Artemis Investment Management LLP boosted its position in General Motors by 3.7% during the 1st quarter. Artemis Investment Management LLP now owns 2,144,067 shares of the auto manufacturer's stock valued at $100,835,000 after acquiring an additional 75,934 shares in the last quarter. Board of the Pension Protection Fund bought a new position in shares of General Motors in the 1st quarter worth $795,000. Finally, Perpetual Ltd raised its position in shares of General Motors by 22.2% in the 1st quarter. Perpetual Ltd now owns 25,025 shares of the auto manufacturer's stock worth $1,177,000 after acquiring an additional 4,554 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Performance

GM traded up $1.81 during trading on Tuesday, reaching $51.02. 2,843,687 shares of the company's stock were exchanged, compared to its average volume of 12,716,940. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04. General Motors Company has a 1 year low of $38.96 and a 1 year high of $61.24. The company's fifty day simple moving average is $48.15 and its 200-day simple moving average is $48.66. The stock has a market capitalization of $49.05 billion, a P/E ratio of 7.34, a price-to-earnings-growth ratio of 1.34 and a beta of 1.34.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results 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. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The firm had revenue of $44.02 billion during the quarter, compared to analysts' expectations of $42.64 billion. During the same quarter last year, the company posted $2.62 earnings per share. The firm's revenue was up 2.3% compared to the same quarter last year. As a group, research analysts predict that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Friday, June 6th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.18%. This is a positive change from General Motors's previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 6th. General Motors's dividend payout ratio (DPR) is 8.65%.

Wall Street Analyst Weigh In

GM has been the topic of several analyst reports. Wedbush cut their target price on General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Barclays lifted their price objective on shares of General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Citigroup initiated coverage on shares of General Motors in a research report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 target price for the company. JPMorgan Chase & Co. reduced their price target on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, Mizuho increased their price objective on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $53.35.

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.