105,300 Shares in General Motors Company (NYSE:GM) Bought by Intact Investment Management Inc.

Intact Investment Management Inc. purchased a new stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 105,300 shares of the auto manufacturer's stock, valued at approximately $4,952,000.

Several other hedge funds have also added to or reduced their stakes in GM. Susquehanna Fundamental Investments LLC purchased a new stake in shares of General Motors during the 4th quarter valued at approximately $25,404,000. Sowell Financial Services LLC bought a new stake in shares of General Motors during the 1st quarter worth $312,000. Handelsbanken Fonder AB grew its position in General Motors by 10.9% in the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer's stock worth $10,763,000 after acquiring an additional 19,924 shares in the last quarter. Olstein Capital Management L.P. increased its stake in General Motors by 18.0% in the first quarter. Olstein Capital Management L.P. now owns 144,000 shares of the auto manufacturer's stock valued at $6,772,000 after acquiring an additional 22,000 shares during the last quarter. Finally, Longbow Finance SA purchased a new stake in General Motors during the fourth quarter valued at about $5,865,000. Institutional investors own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GM. Citigroup started coverage on General Motors in a report on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price objective for the company. Sanford C. Bernstein set a $36.00 target price on General Motors in a research report on Monday, May 5th. Wedbush reduced their price target on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price on the stock. in a report on Monday, April 14th. Finally, Mizuho upped their price target on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, General Motors has a consensus rating of "Hold" and an average target price of $53.35.

General Motors Stock Down 1.7%

NYSE:GM traded down $0.84 during trading hours on Wednesday, reaching $48.16. 6,906,312 shares of the company traded hands, compared to its average volume of 12,784,996. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 1.46. The business's 50-day moving average price is $47.78 and its two-hundred day moving average price is $48.78. General Motors Company has a 1 year low of $38.96 and a 1 year high of $61.24. The stock has a market capitalization of $46.30 billion, a P/E ratio of 6.94, a P/E/G ratio of 1.32 and a beta of 1.34.

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

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Friday, June 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.25%. This is an increase from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 6th. General Motors's dividend payout ratio (DPR) is presently 8.65%.

General Motors declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership 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.