KLP Kapitalforvaltning AS Raises Stock Position in General Motors Company (NYSE:GM)

KLP Kapitalforvaltning AS increased its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 545,324 shares of the auto manufacturer's stock after buying an additional 14,100 shares during the period. KLP Kapitalforvaltning AS owned 0.06% of General Motors worth $25,647,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GM. Brighton Jones LLC boosted its holdings in General Motors by 456.1% during the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock worth $2,062,000 after buying an additional 31,755 shares in the last quarter. Whittier Trust Co. boosted its holdings in General Motors by 551.9% during the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after buying an additional 425 shares in the last quarter. LPL Financial LLC boosted its holdings in General Motors by 8.5% during the fourth quarter. LPL Financial LLC now owns 640,491 shares of the auto manufacturer's stock worth $34,119,000 after buying an additional 50,031 shares in the last quarter. Interchange Capital Partners LLC boosted its holdings in General Motors by 13.4% during the fourth quarter. Interchange Capital Partners LLC now owns 6,932 shares of the auto manufacturer's stock worth $369,000 after buying an additional 819 shares in the last quarter. Finally, TIAA Trust National Association boosted its holdings in General Motors by 25.4% during the fourth quarter. TIAA Trust National Association now owns 8,008 shares of the auto manufacturer's stock worth $427,000 after buying an additional 1,624 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of NYSE:GM traded up $1.04 during midday trading on Friday, hitting $53.38. The company's stock had a trading volume of 6,483,783 shares, compared to its average volume of 10,352,842. 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 business's 50 day simple moving average is $50.23 and its 200 day simple moving average is $48.72. General Motors Company has a 12-month low of $38.96 and a 12-month high of $61.24. The company has a market cap of $50.82 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 1.13 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued 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 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 the consensus estimate of $45.87 billion. During the same period in the previous year, the firm earned $3.06 earnings per share. General Motors's quarterly revenue was down 1.8% compared to the same quarter last year. On average, analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

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

Wall Street Analysts Forecast Growth

GM has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a report on Wednesday. Bank of America decreased their price objective on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday. UBS Group increased their price objective on shares of General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Benchmark began coverage on shares of General Motors in a report on Monday, July 21st. They set a "buy" rating and a $65.00 price objective on the stock. Finally, Industrial Alliance Securities set a $70.00 price objective on shares of General Motors in a report on Friday, July 11th. Four research 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $56.35.

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.