Jupiter Asset Management Ltd. Invests $86.90 Million in General Motors Company (NYSE:GM)

Key Points

• Jupiter Asset Management Ltd. invested approximately $86.90 million in General Motors, acquiring 1,847,756 shares, making it the fund's 17th largest holding.
• General Motors reported earnings per share of $2.53 for the last quarter, surpassing estimates, but saw a 1.8% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.15 per share, resulting in an annualized dividend yield of 1.1%.

Jupiter Asset Management Ltd. purchased a new position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,847,756 shares of the auto manufacturer's stock, valued at approximately $86,900,000. General Motors makes up about 0.8% of Jupiter Asset Management Ltd.'s investment portfolio, making the stock its 17th biggest holding. Jupiter Asset Management Ltd. owned about 0.19% of General Motors as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Measured Risk Portfolios Inc. bought a new stake in shares of General Motors in the 4th quarter worth approximately $27,000. Transce3nd LLC bought a new stake in shares of General Motors in the 4th quarter worth approximately $34,000. North Capital Inc. purchased a new position in General Motors in the 1st quarter worth approximately $40,000. Ossiam bought a new position in General Motors in the 4th quarter valued at approximately $44,000. Finally, Princeton Global Asset Management LLC lifted its position in General Motors by 141.0% in the 1st quarter. Princeton Global Asset Management LLC now owns 1,070 shares of the auto manufacturer's stock valued at $50,000 after acquiring an additional 626 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

General Motors Trading Down 1.5%

Shares of General Motors stock opened at $52.52 on Friday. The company's fifty day simple moving average is $50.55 and its 200-day simple moving average is $48.81. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The stock has a market capitalization of $50.00 billion, a PE ratio of 8.34, a P/E/G ratio of 1.13 and a beta of 1.35. General Motors Company has a 1-year low of $38.96 and a 1-year high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. The firm had revenue of $47.12 billion during the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.06 earnings per share. As a group, equities analysts anticipate that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. General Motors's dividend payout ratio is 9.52%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America lowered their price objective on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft cut General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective on the stock. in a research report on Monday, April 14th. Benchmark assumed coverage on General Motors in a research report on Monday, July 21st. They issued a "buy" rating and a $65.00 price objective on the stock. Wedbush reaffirmed an "outperform" rating and issued a $55.00 price objective on shares of General Motors in a research report on Wednesday, July 23rd. Finally, Barclays lifted their target price on shares of General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $56.35.

General Motors Company 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.

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