Cassia Capital Partners LLC Purchases 7,221 Shares of General Motors Company (NYSE:GM)

Cassia Capital Partners LLC boosted its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 63.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,683 shares of the auto manufacturer's stock after acquiring an additional 7,221 shares during the period. Cassia Capital Partners LLC's holdings in General Motors were worth $879,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Duncker Streett & Co. Inc. increased its position 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 acquiring an additional 498 shares during the period. Whittier Trust Co. increased its holdings in shares of General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after purchasing an additional 425 shares during the period. Measured Risk Portfolios Inc. acquired a new position in shares of General Motors during the fourth quarter valued at about $27,000. Transce3nd LLC acquired a new position in shares of General Motors during the fourth quarter valued at about $34,000. Finally, Rakuten Securities Inc. lifted its stake in shares of General Motors by 195.5% in the fourth quarter. Rakuten Securities Inc. now owns 792 shares of the auto manufacturer's stock valued at $42,000 after buying an additional 524 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on GM. Piper Sandler reaffirmed a "neutral" rating and issued a $48.00 price target (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Citigroup began coverage on General Motors in a research report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 price target on the stock. Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a research report on Monday, May 5th. TD Cowen initiated coverage on General Motors in a research report on Friday, March 7th. They set a "buy" rating and a $105.00 target price for the company. Finally, Royal Bank Of Canada boosted their price target on shares of General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $53.35.

General Motors Stock Down 1.7%

Shares of GM stock traded down $0.84 on Wednesday, hitting $48.16. 6,906,312 shares of the stock were exchanged, compared to its average volume of 12,784,996. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $46.30 billion, a P/E ratio of 6.94, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. General Motors Company has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The business has a 50-day moving average of $47.78 and a 200 day moving average of $48.78.

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 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to analysts' expectations of $42.64 billion. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $2.62 EPS. Equities analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were issued a $0.15 dividend. This is a boost from General Motors's previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 6th. This represents a $0.60 annualized dividend and a dividend yield of 1.25%. General Motors's dividend payout ratio (DPR) is presently 8.65%.

General Motors declared that its board has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are 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.