General Motors Company (NYSE:GM) Stock Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 13.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,069,873 shares of the auto manufacturer's stock after selling 1,512,193 shares during the period. Bank of New York Mellon Corp owned 1.04% of General Motors worth $473,586,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. boosted its position in shares of 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 during the period. Measured Risk Portfolios Inc. bought a new stake in General Motors during the 4th quarter valued at $27,000. Transce3nd LLC acquired a new position in General Motors during the 4th quarter worth $34,000. North Capital Inc. acquired a new position in General Motors during the 1st quarter worth $40,000. Finally, Rakuten Securities Inc. grew its stake in shares of General Motors by 195.5% in the fourth quarter. Rakuten Securities Inc. now owns 792 shares of the auto manufacturer's stock worth $42,000 after purchasing an additional 524 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GM shares. Citigroup began coverage on shares of General Motors in a research note on Wednesday, April 23rd. They set a "buy" rating and a $62.00 price objective on the stock. The Goldman Sachs Group dropped their price target on shares of General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Wedbush reduced their price target on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a research note on Monday, May 5th. Finally, UBS Group dropped their target price on General Motors from $51.00 to $50.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $53.35.

General Motors Trading Up 0.4%

NYSE GM traded up $0.23 on Friday, hitting $52.91. 6,612,290 shares of the company were exchanged, compared to its average volume of 12,768,053. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04. General Motors Company has a twelve month low of $38.96 and a twelve month high of $61.24. The firm has a market capitalization of $50.86 billion, a P/E ratio of 7.62, a price-to-earnings-growth ratio of 1.42 and a beta of 1.32. The company's 50 day moving average price is $48.66 and its 200-day moving average price is $48.72.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.15. The business had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $2.62 earnings per share. Analysts predict that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were issued a $0.15 dividend. The ex-dividend date was Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.13%. This is a positive change from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is presently 8.65%.

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.