Mount Lucas Management LP Acquires 17,603 Shares of General Motors Company (NYSE:GM)

Mount Lucas Management LP increased its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 96.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,780 shares of the auto manufacturer's stock after purchasing an additional 17,603 shares during the period. Mount Lucas Management LP's holdings in General Motors were worth $1,683,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GM. Auto Owners Insurance Co increased its position in shares of General Motors by 9,318.4% during the 1st quarter. Auto Owners Insurance Co now owns 923,000 shares of the auto manufacturer's stock valued at $43,409,000 after purchasing an additional 913,200 shares during the period. SYM FINANCIAL Corp boosted its position in shares of General Motors by 70.3% in the first quarter. SYM FINANCIAL Corp now owns 15,142 shares of the auto manufacturer's stock worth $712,000 after buying an additional 6,250 shares during the period. Oak Thistle LLC acquired a new stake in shares of General Motors in the first quarter worth $477,000. Proficio Capital Partners LLC boosted its position in shares of General Motors by 73.5% in the first quarter. Proficio Capital Partners LLC now owns 18,116 shares of the auto manufacturer's stock worth $852,000 after buying an additional 7,675 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its position in General Motors by 2.7% during the first quarter. KLP Kapitalforvaltning AS now owns 545,324 shares of the auto manufacturer's stock valued at $25,647,000 after purchasing an additional 14,100 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

General Motors Trading Up 2.0%

Shares of NYSE GM traded up $1.04 during midday trading on Friday, hitting $53.38. 6,483,783 shares of the company traded hands, compared to its average volume of 10,352,842. General Motors Company has a 12-month low of $38.96 and a 12-month high of $61.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.04 and a current ratio of 1.22. The stock has a 50-day moving average price of $50.23 and a 200 day moving average price of $48.73. The firm has a market cap of $50.82 billion, a P/E ratio of 8.47, a P/E/G ratio of 1.10 and a beta of 1.32.

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

General Motors Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GM. Industrial Alliance Securities set a $70.00 price objective on General Motors in a research report on Friday, July 11th. Benchmark began coverage on General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 price objective for the company. UBS Group lifted their price objective on General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. lifted their price objective on General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, BNP Paribas raised General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.