General Motors (NYSE:GM) Stock Position Decreased by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 15.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 671,169 shares of the auto manufacturer's stock after selling 125,415 shares during the period. Douglas Lane & Associates LLC owned 0.07% of General Motors worth $31,565,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in shares of General Motors by 456.1% in 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 period. Blue Trust Inc. boosted its stake in shares of General Motors by 19.7% in the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer's stock valued at $488,000 after buying an additional 1,510 shares during the period. OLD National Bancorp IN raised its holdings in General Motors by 13.3% in the fourth quarter. OLD National Bancorp IN now owns 6,787 shares of the auto manufacturer's stock valued at $362,000 after acquiring an additional 795 shares in the last quarter. Crews Bank & Trust acquired a new position in General Motors during the 4th quarter worth approximately $26,000. Finally, Mediolanum International Funds Ltd grew its holdings in General Motors by 905.8% during the 4th quarter. Mediolanum International Funds Ltd now owns 160,667 shares of the auto manufacturer's stock worth $8,600,000 after acquiring an additional 144,693 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. 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. Piper Sandler reaffirmed a "neutral" rating and issued a $48.00 target price (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a research note on Monday, May 5th. Finally, Royal Bank of Canada upped their target price on shares of General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, General Motors has an average rating of "Hold" and an average price target of $54.56.

General Motors Price Performance

Shares of GM stock traded up $1.36 during trading hours on Tuesday, hitting $49.05. The company's stock had a trading volume of 12,393,489 shares, compared to its average volume of 13,226,707. The stock has a market cap of $47.16 billion, a price-to-earnings ratio of 7.98, a P/E/G ratio of 0.67 and a beta of 1.36. The business has a fifty day moving average of $46.74 and a 200-day moving average of $49.51. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

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 for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The company had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. During the same quarter last year, the firm posted $2.62 earnings per share. General Motors's revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. This is a positive change from General Motors's previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. General Motors's dividend payout ratio (DPR) is presently 8.65%.

General Motors announced that its board has authorized a share 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 shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

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.