Goldman Sachs Group Inc. Boosts Holdings in General Motors Company (NYSE:GM)

Key Points

• Goldman Sachs Group Inc. increased its stake in General Motors by 12.1% during the first quarter, owning approximately 0.98% of the company worth $444 million.
• General Motors reported earnings of $2.53 EPS for the latest quarter, surpassing analysts' expectations and achieving a revenue of $47.12 billion.
• The company announced a quarterly dividend of $0.15 per share, representing an annualized yield of 1.1%, with the ex-dividend date set for September 5th.

Goldman Sachs Group Inc. grew its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 12.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,447,099 shares of the auto manufacturer's stock after acquiring an additional 1,020,386 shares during the quarter. Goldman Sachs Group Inc. owned about 0.98% of General Motors worth $444,297,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Measured Risk Portfolios Inc. acquired a new stake in General Motors during the 4th quarter valued at approximately $27,000. Costello Asset Management INC acquired a new stake in General Motors during the 1st quarter valued at approximately $32,000. Transce3nd LLC acquired a new stake in General Motors during the 4th quarter valued at approximately $34,000. North Capital Inc. acquired a new stake in General Motors during the 1st quarter valued at approximately $40,000. Finally, Ossiam acquired a new stake in General Motors during the 4th quarter valued at approximately $44,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the transaction, the executive vice president directly owned 8,513 shares in the company, valued at approximately $451,274.13. This represents a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Analyst Ratings Changes

GM has been the topic of several recent research reports. The Goldman Sachs Group reissued a "buy" rating on shares of General Motors in a report on Friday, July 11th. Mizuho lifted their price target on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th. JPMorgan Chase & Co. boosted their price target on General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. UBS Group boosted their price objective on General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Finally, Wells Fargo & Company boosted their price objective on General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 23rd. Two 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $57.53.

General Motors Price Performance

NYSE GM traded up $0.57 on Friday, reaching $53.52. The company had a trading volume of 4,125,133 shares, compared to its average volume of 10,305,823. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $50.96 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 1.13 and a beta of 1.36. The firm's 50 day moving average price is $50.95 and its 200 day moving average price is $48.82. General Motors Company has a 12 month low of $41.60 and a 12 month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. During the same quarter last year, the business earned $3.06 EPS. The business's revenue was down 1.8% on a year-over-year basis. As a group, equities analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's payout ratio is currently 9.52%.

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.