CCM Investment Advisers LLC Buys 38,320 Shares of General Motors (NYSE:GM)

CCM Investment Advisers LLC grew its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 20.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,190 shares of the auto manufacturer's stock after acquiring an additional 38,320 shares during the period. CCM Investment Advisers LLC's holdings in General Motors were worth $10,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Norges Bank bought a new stake in General Motors during the 4th quarter worth about $592,321,000. Assenagon Asset Management S.A. grew its position in shares of General Motors by 305.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after buying an additional 2,154,037 shares during the period. Amundi lifted its holdings in General Motors by 75.5% in the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock valued at $250,627,000 after buying an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC lifted its holdings in General Motors by 39.8% in the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock valued at $394,060,000 after buying an additional 2,104,528 shares during the period. Finally, Raymond James Financial Inc. bought a new position in General Motors in the fourth quarter valued at approximately $108,366,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Down 1.3%

Shares of NYSE:GM traded down $0.64 during mid-day trading on Friday, reaching $48.62. 8,701,633 shares of the stock were exchanged, compared to its average volume of 12,985,130. The stock's 50 day simple moving average is $47.21 and its 200-day simple moving average is $49.11. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a market cap of $46.74 billion, a P/E ratio of 7.91, a P/E/G ratio of 0.67 and a beta of 1.34. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released 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. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The firm had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. During the same quarter in the prior year, the firm posted $2.62 EPS. The business's revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 6th. This is a boost from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 1.23%. General Motors's payout ratio is 8.65%.

General Motors announced that its board has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. TD Cowen initiated coverage on General Motors in a research note on Friday, March 7th. They issued a "buy" rating and a $105.00 price target on the stock. Royal Bank of Canada increased their target price on General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Citigroup assumed coverage on General Motors in a research report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 target price for the company. UBS Group lowered their price target on General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Four research analysts have rated the stock with a sell rating, ten have issued 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 has a consensus rating of "Hold" and a consensus price target 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.