General Motors Company (NYSE:GM) Shares Acquired by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd lifted its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 38.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,111,582 shares of the auto manufacturer's stock after buying an additional 1,712,033 shares during the quarter. General Motors comprises about 1.6% of AustralianSuper Pty Ltd's portfolio, making the stock its 10th largest holding. AustralianSuper Pty Ltd owned approximately 0.63% of General Motors worth $287,428,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of General Motors in the 4th quarter valued at approximately $592,321,000. Assenagon Asset Management S.A. grew its holdings in shares of General Motors by 305.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock valued at $134,457,000 after purchasing an additional 2,154,037 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of General Motors by 54.4% during the 4th quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock valued at $178,593,000 after purchasing an additional 1,180,936 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of General Motors by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock valued at $1,559,380,000 after purchasing an additional 1,170,816 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of General Motors during the 4th quarter valued at approximately $60,198,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GM shares. Barclays upped their price objective on shares of General Motors from $45.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday. Citigroup assumed coverage on shares of General Motors in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective on the stock. in a research note on Monday, April 14th. Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a research note on Monday, May 5th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $48.00 target price (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $55.17.

General Motors Price Performance

GM stock traded up $0.02 during midday trading on Friday, hitting $53.23. The company's stock had a trading volume of 6,492,936 shares, compared to its average volume of 12,602,183. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $51.18 billion, a price-to-earnings ratio of 7.67, a price-to-earnings-growth ratio of 1.43 and a beta of 1.32. General Motors Company has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a 50 day moving average of $50.02 and a two-hundred day moving average of $48.74.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.63 by $0.15. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The firm had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. During the same period in the prior year, the company earned $2.62 EPS. The company's quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts expect that General Motors Company will post 11.44 EPS for the current year.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Friday, June 6th were given a dividend of $0.15 per share. The ex-dividend date was Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.13%. This is an increase from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio (DPR) is presently 8.65%.

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.

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