Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in General Motors Company (NYSE:GM)

Key Points

• Zurcher Kantonalbank significantly increased its holdings in General Motors by 172.5% in Q1, acquiring a total of 709,970 shares valued at approximately $33.39 million.
• General Motors' shares have a target price ranging from $36.00 to $70.00, with an average rating of "Hold" and an average target price of $56.35 according to recent analyst reports.
• The company recently announced a quarterly dividend of $0.15 per share, resulting in an annualized dividend yield of 1.12%.

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 172.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 709,970 shares of the auto manufacturer's stock after buying an additional 449,405 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of General Motors worth $33,390,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Measured Risk Portfolios Inc. bought a new stake in shares of General Motors in the 4th quarter valued at about $27,000. Transce3nd LLC bought a new stake in General Motors in the fourth quarter valued at approximately $34,000. Ossiam purchased a new stake in shares of General Motors during the fourth quarter valued at approximately $44,000. North Capital Inc. purchased a new position in shares of General Motors in the first quarter worth $40,000. Finally, Princeton Global Asset Management LLC raised its holdings in General Motors by 141.0% during the 1st quarter. Princeton Global Asset Management LLC now owns 1,070 shares of the auto manufacturer's stock valued at $50,000 after buying an additional 626 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

General Motors Stock Up 0.1%

Shares of NYSE:GM traded up $0.04 during trading on Monday, reaching $53.44. 6,950,118 shares of the stock traded hands, compared to its average volume of 10,142,615. General Motors Company has a 52-week low of $38.96 and a 52-week high of $61.24. The stock has a market cap of $50.88 billion, a P/E ratio of 8.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.32. The stock has a 50-day moving average of $50.30 and a two-hundred day moving average of $48.73. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. During the same quarter last year, the company earned $3.06 EPS. The company's quarterly revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's payout ratio is presently 9.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays raised their price target on shares of General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Bank of America lowered their price target on General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Citigroup lifted their price objective on General Motors from $59.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their target price on General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, Wedbush reissued an "outperform" rating and set a $55.00 price objective on shares of General Motors in a research report on Wednesday, July 23rd. Four analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target 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.