Douglas Lane & Associates LLC Has $31.57 Million Stock Position in General Motors (NYSE:GM)

Douglas Lane & Associates LLC trimmed its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 15.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 671,169 shares of the auto manufacturer's stock after selling 125,415 shares during the period. Douglas Lane & Associates LLC owned approximately 0.07% of General Motors worth $31,565,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GM. Brighton Jones LLC boosted its stake in shares of General Motors by 456.1% during the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock valued at $2,062,000 after buying an additional 31,755 shares during the last quarter. Blue Trust Inc. boosted its stake in General Motors by 19.7% during the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer's stock valued at $488,000 after acquiring an additional 1,510 shares during the last quarter. OLD National Bancorp IN grew its holdings in General Motors by 13.3% during the 4th quarter. OLD National Bancorp IN now owns 6,787 shares of the auto manufacturer's stock worth $362,000 after acquiring an additional 795 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of General Motors in the 4th quarter worth about $26,000. Finally, Mediolanum International Funds Ltd raised its stake in shares of General Motors by 905.8% in the 4th quarter. Mediolanum International Funds Ltd now owns 160,667 shares of the auto manufacturer's stock valued at $8,600,000 after purchasing an additional 144,693 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GM shares. UBS Group dropped their price target on General Motors from $51.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. BNP Paribas upgraded General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Royal Bank of Canada increased their price objective on General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. cut 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. Finally, Wedbush decreased their target price on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a research 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $54.56.

General Motors Trading Down 0.5%

Shares of NYSE GM traded down $0.26 during mid-day trading on Thursday, hitting $47.41. 4,447,286 shares of the company traded hands, compared to its average volume of 13,028,579. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The business has a 50 day moving average of $46.79 and a two-hundred day moving average of $49.49. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $45.58 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.67 and a beta of 1.34.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion for 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 revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.62 EPS. On average, sell-side analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a dividend of $0.15 per share. This is a boost from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.27%. General Motors's dividend payout ratio (DPR) is presently 8.65%.

General Motors announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors 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.