Gateway Investment Advisers LLC Invests $6.32 Million in General Motors (NYSE:GM)

Gateway Investment Advisers LLC purchased a new stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 134,448 shares of the auto manufacturer's stock, valued at approximately $6,323,000.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted 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 purchasing an additional 31,755 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in General Motors by 28.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 57,275 shares of the auto manufacturer's stock valued at $3,051,000 after purchasing an additional 12,612 shares during the last quarter. Bleakley Financial Group LLC grew its stake in General Motors by 2.3% during the fourth quarter. Bleakley Financial Group LLC now owns 18,434 shares of the auto manufacturer's stock worth $982,000 after buying an additional 408 shares during the last quarter. Silver Oak Securities Incorporated bought a new stake in General Motors during the fourth quarter worth about $175,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of General Motors during the fourth quarter worth approximately $783,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GM. TD Cowen started coverage on General Motors in a research report on Friday, March 7th. They set a "buy" rating and a $105.00 price target on the stock. Cowen started coverage on General Motors in a research note on Thursday, March 6th. They issued a "buy" rating for the company. JPMorgan Chase & Co. reduced their price target on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a report on Monday, May 5th. Finally, Citigroup started coverage on shares of General Motors in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 target price for the company. Four equities 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 stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $54.56.

General Motors Stock Performance

Shares of General Motors stock traded up $0.65 during mid-day trading on Monday, hitting $48.12. 1,530,260 shares of the stock were exchanged, compared to its average volume of 13,124,502. The company has a 50-day simple moving average of $46.80 and a 200 day simple moving average of $49.30. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a market capitalization of $46.26 billion, a P/E ratio of 7.83, a P/E/G ratio of 0.67 and a beta of 1.34.

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 the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.62 EPS. Sell-side analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business 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. This represents a $0.60 annualized dividend and a dividend yield of 1.25%. 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. General Motors's dividend payout ratio is 8.65%.

General Motors announced that its board has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is 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.