Rafferty Asset Management LLC Has $5.45 Million Position in General Motors (NYSE:GM)

Rafferty Asset Management LLC increased its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 10.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,228 shares of the auto manufacturer's stock after purchasing an additional 9,697 shares during the quarter. Rafferty Asset Management LLC's holdings in General Motors were worth $5,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in General Motors during the 4th quarter worth approximately $592,321,000. Amundi lifted its holdings in General Motors by 75.5% in the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock worth $250,627,000 after purchasing an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC boosted its holdings in shares of General Motors by 39.8% in the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock valued at $394,060,000 after acquiring an additional 2,104,528 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of General Motors in the fourth quarter valued at approximately $108,366,000. Finally, National Bank of Canada FI increased its stake in shares of General Motors by 54.4% during the fourth quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock valued at $178,593,000 after acquiring an additional 1,180,936 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Down 1.6%

GM stock traded down $0.82 during trading hours on Wednesday, hitting $49.39. The company's stock had a trading volume of 7,513,802 shares, compared to its average volume of 13,361,311. The company has a market capitalization of $47.49 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The stock has a 50 day moving average price of $46.95 and a two-hundred day moving average price of $50.00. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to analysts' expectations of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.62 earnings per share. On average, equities research analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is presently 8.65%.

General Motors announced that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Cowen began coverage on General Motors in a research note on Thursday, March 6th. They issued a "buy" rating on the stock. Piper Sandler upped their price objective on shares of General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reduced their target price on General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. StockNews.com downgraded General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, Wells Fargo & Company reissued an "underweight" rating on shares of General Motors in a research report on Monday, February 3rd. Four analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors presently has an average rating of "Hold" and a consensus target price of $54.56.

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.