Gateway Investment Advisers LLC Acquires Shares of 134,448 General Motors (NYSE:GM)

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Golden State Wealth Management LLC purchased a new stake in shares of General Motors during the 4th quarter valued at $25,000. Compass Planning Associates Inc purchased a new position in General Motors during the 4th quarter worth $27,000. Duncker Streett & Co. Inc. increased its position in General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 498 shares in the last quarter. Whittier Trust Co. raised its stake in General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 425 shares during the last quarter. Finally, Measured Risk Portfolios Inc. purchased a new stake in General Motors in the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Stock Performance

NYSE GM traded up $0.91 during mid-day trading on Wednesday, reaching $49.84. 8,144,260 shares of the stock were exchanged, compared to its average volume of 13,089,550. The company has a market capitalization of $47.92 billion, a P/E ratio of 8.10, a P/E/G ratio of 0.67 and a beta of 1.34. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The business's 50 day moving average is $46.86 and its 200-day moving average is $49.22. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings data 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 quarter in the prior year, the firm posted $2.62 earnings per share. The company's revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be given a dividend of $0.15 per share. 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 1.20%. This is an increase from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is currently 8.65%.

General Motors announced that its board has approved a share 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 typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

GM has been the topic of a number of research analyst reports. Wedbush dropped their price target 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. Piper Sandler reissued a "neutral" rating and set a $48.00 target price (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Mizuho upped their price target on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a report on Monday, May 5th. Finally, Barclays upped their target price on General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $54.56.

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.