GAMMA Investing LLC Acquires 928,655 Shares of General Motors (NYSE:GM)

GAMMA Investing LLC boosted its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 5,102.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 946,855 shares of the auto manufacturer's stock after buying an additional 928,655 shares during the quarter. GAMMA Investing LLC owned 0.10% of General Motors worth $44,531,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in General Motors by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of General Motors by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer's stock worth $1,264,567,000 after acquiring an additional 176,436 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of General Motors by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock valued at $749,382,000 after purchasing an additional 228,408 shares during the last quarter. Norges Bank acquired a new position in shares of General Motors in the 4th quarter valued at $592,321,000. Finally, Northern Trust Corp boosted its holdings in shares of General Motors by 8.1% in the 4th quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock valued at $582,251,000 after purchasing an additional 822,454 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Trading Up 0.5%

Shares of GM stock traded up $0.25 on Friday, reaching $47.50. 7,948,964 shares of the stock were exchanged, compared to its average volume of 13,170,290. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a one year low of $38.96 and a one year high of $61.24. The stock has a market cap of $45.67 billion, a PE ratio of 7.72, a P/E/G ratio of 0.67 and a beta of 1.34. The stock has a 50 day moving average price of $46.80 and a 200 day moving average price of $49.38.

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 business had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. During the same period in the previous year, the firm posted $2.62 earnings per share. General Motors's revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts forecast that General Motors will post 11.44 EPS 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 $0.15 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is currently 8.65%.

General Motors declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GM has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. BNP Paribas upgraded General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Wedbush cut their price objective on General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. TD Cowen started coverage on General Motors in a research note on Friday, March 7th. They issued a "buy" rating and a $105.00 target price on the stock. Finally, The Goldman Sachs Group cut their price target on General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $54.56.

General Motors Company 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.