Cassia Capital Partners LLC Raises Stake in General Motors Company (NYSE:GM)

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

Other large investors have also recently bought and sold shares of the company. Nemes Rush Group LLC grew its holdings in shares of General Motors by 18.7% during the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock worth $73,000 after purchasing an additional 217 shares during the period. Operose Advisors LLC grew its holdings in shares of General Motors by 18.7% during the 4th quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock worth $75,000 after purchasing an additional 223 shares during the period. Bessemer Group Inc. grew its holdings in shares of General Motors by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after purchasing an additional 226 shares during the period. Norden Group LLC grew its holdings in shares of General Motors by 3.0% during the 4th quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer's stock worth $421,000 after purchasing an additional 229 shares during the period. Finally, Royal Capital Wealth Management LLC grew its holdings in shares of General Motors by 5.3% during the 4th quarter. Royal Capital Wealth Management LLC now owns 5,060 shares of the auto manufacturer's stock worth $270,000 after purchasing an additional 255 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Price Performance

GM stock opened at $48.10 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04. The firm has a market capitalization of $46.24 billion, a P/E ratio of 6.93, a P/E/G ratio of 1.29 and a beta of 1.34. The business's 50-day moving average is $47.62 and its two-hundred day moving average is $48.85. General Motors Company has a 1 year low of $38.96 and a 1 year high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted 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. The company had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. General Motors had a return on equity of 14.30% and a net margin of 3.08%. General Motors's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.62 EPS. Analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows 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 board believes its shares are undervalued.

General Motors Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GM. Barclays increased their price target on General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Wedbush lowered their price target on General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Mizuho raised their target price on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft cut General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price for the company. in a report on Monday, April 14th. Finally, Citigroup began coverage on General Motors in a report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 target price for the company. Four 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $53.35.

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.

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