Foster & Motley Inc. Buys 29,332 Shares of General Motors Company (NYSE:GM)

Key Points

• Foster & Motley Inc. increased its stake in General Motors by 32.5%, acquiring 29,332 shares to hold a total of 119,500 shares valued at approximately $5.62 million.
• General Motors reported a quarterly earnings per share (EPS) of $2.53, slightly surpassing analyst expectations, with quarterly revenue of $47.12 billion, down 1.8% year-over-year.
• The company has announced a quarterly dividend of $0.15 per share, representing an annualized yield of 1.15%, with the payout occurring on September 18th.

Foster & Motley Inc. lifted its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 32.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,500 shares of the auto manufacturer's stock after buying an additional 29,332 shares during the quarter. Foster & Motley Inc.'s holdings in General Motors were worth $5,620,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of General Motors in the fourth quarter valued at $25,404,000. Cassia Capital Partners LLC lifted its stake in shares of General Motors by 63.0% in the first quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock valued at $879,000 after buying an additional 7,221 shares in the last quarter. AustralianSuper Pty Ltd lifted its stake in shares of General Motors by 38.9% in the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock valued at $287,428,000 after buying an additional 1,712,033 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of General Motors during the first quarter valued at about $312,000. Finally, Brown Advisory Inc. lifted its position in shares of General Motors by 55.9% during the first quarter. Brown Advisory Inc. now owns 17,651 shares of the auto manufacturer's stock valued at $830,000 after purchasing an additional 6,330 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Up 2.3%

Shares of NYSE:GM traded up $1.20 during midday trading on Thursday, reaching $53.31. The company's stock had a trading volume of 14,454,221 shares, compared to its average volume of 9,662,962. The firm has a 50 day moving average of $50.47 and a 200-day moving average of $48.80. The firm has a market capitalization of $50.75 billion, a P/E ratio of 8.46, a PEG ratio of 1.10 and a beta of 1.32. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. General Motors Company has a 12-month low of $38.96 and a 12-month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. The firm had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company's revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.06 EPS. On average, research analysts anticipate that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, September 5th. This represents a $0.60 annualized dividend and a yield of 1.1%. General Motors's dividend payout ratio is currently 9.52%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GM. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a research report on Friday, July 11th. Wells Fargo & Company raised their price target on shares of General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research report on Wednesday, July 23rd. Citigroup raised their price target on shares of General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Piper Sandler reissued a "neutral" rating and set a $48.00 price target (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Finally, BNP Paribas raised shares of General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $56.35.

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.