Czech National Bank Sells 9,879 Shares of General Motors (NYSE:GM)

Czech National Bank lessened its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 4.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 228,536 shares of the auto manufacturer's stock after selling 9,879 shares during the period. Czech National Bank's holdings in General Motors were worth $10,748,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of General Motors in the 4th quarter worth $592,321,000. Amundi lifted its position in shares of General Motors by 75.5% in the 4th 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 lifted its holdings in 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 worth $394,060,000 after buying an additional 2,104,528 shares during the period. Raymond James Financial Inc. bought a new stake in shares of General Motors during the fourth quarter valued at approximately $108,366,000. Finally, National Bank of Canada FI grew its position in shares of General Motors by 54.4% in the 4th quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock worth $178,593,000 after buying an additional 1,180,936 shares during the period. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price on the stock. in a research note on Monday, April 14th. Piper Sandler reissued a "neutral" rating and issued a $48.00 price objective (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Wedbush cut their price target on General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. TD Cowen assumed coverage on shares of General Motors in a research note on Friday, March 7th. They set a "buy" rating and a $105.00 target price on the stock. Finally, BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Four analysts have rated the stock with a sell rating, ten have issued 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, the company has a consensus rating of "Hold" and a consensus target price of $54.56.

General Motors Trading Up 0.3%

NYSE:GM traded up $0.13 during trading hours on Thursday, reaching $47.80. 3,390,036 shares of the company were exchanged, compared to its average volume of 13,189,620. The firm has a market cap of $45.95 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 0.67 and a beta of 1.34. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a 50 day simple moving average of $46.79 and a 200 day simple moving average of $49.49. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS 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 analysts' expectations of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The company's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.62 earnings per share. As a group, analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. General Motors's payout ratio is presently 8.65%.

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

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.