Tredje AP fonden Increases Stock Holdings in General Motors Company (NYSE:GM)

Tredje AP fonden raised its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 21.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,266,260 shares of the auto manufacturer's stock after purchasing an additional 219,560 shares during the period. Tredje AP fonden owned about 0.13% of General Motors worth $59,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Measured Risk Portfolios Inc. purchased a new position in General Motors in the fourth quarter valued at approximately $27,000. Transce3nd LLC acquired a new position in General Motors in the fourth quarter valued at $34,000. Ossiam purchased a new position in shares of General Motors during the fourth quarter worth about $44,000. North Capital Inc. acquired a new stake in shares of General Motors during the first quarter worth about $40,000. Finally, Princeton Global Asset Management LLC boosted its position in shares of General Motors by 141.0% in the 1st quarter. Princeton Global Asset Management LLC now owns 1,070 shares of the auto manufacturer's stock valued at $50,000 after purchasing an additional 626 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Trading Up 2.3%

NYSE GM traded up $1.20 during mid-day trading on Thursday, reaching $53.31. 14,454,221 shares of the stock were exchanged, compared to its average volume of 9,662,962. The stock has a market capitalization of $50.75 billion, a PE ratio of 8.46, a PEG ratio of 1.10 and a beta of 1.32. 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 Company has a 1-year low of $38.96 and a 1-year high of $61.24. The business's fifty day simple moving average is $50.39 and its 200 day simple moving average is $48.77.

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

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, September 5th. General Motors's dividend payout ratio (DPR) is 9.52%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GM. JPMorgan Chase & Co. raised their target price on shares of General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Piper Sandler restated a "neutral" rating and issued a $48.00 price objective (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. UBS Group raised their price target on General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Bank of America reduced their price objective on General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Finally, Citigroup lifted their target price on General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $56.35.

General Motors Company 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.