Lmcg Investments LLC Sells 87,840 Shares of General Motors (NYSE:GM)

Lmcg Investments LLC decreased its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 58.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,293 shares of the auto manufacturer's stock after selling 87,840 shares during the period. Lmcg Investments LLC's holdings in General Motors were worth $2,883,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in General Motors by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock valued at $1,559,380,000 after purchasing an additional 1,170,816 shares in the last quarter. Geode Capital Management LLC grew its position in General Motors by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer's stock valued at $1,264,567,000 after purchasing an additional 176,436 shares in the last quarter. Dimensional Fund Advisors LP grew its position in General Motors by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock valued at $749,382,000 after purchasing an additional 228,408 shares in the last quarter. Norges Bank bought a new position in General Motors in the fourth quarter valued at $592,321,000. Finally, Northern Trust Corp grew its position in General Motors by 8.1% in the fourth quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock valued at $582,251,000 after purchasing an additional 822,454 shares in the last quarter. Institutional investors own 92.67% of the company's stock.

General Motors Stock Performance

NYSE GM opened at $47.22 on Friday. The firm has a 50-day moving average of $46.80 and a 200-day moving average of $49.43. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a market cap of $45.40 billion, a PE ratio of 7.68, a P/E/G ratio of 0.67 and a beta of 1.34. 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 data 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. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The business had revenue of $44.02 billion during the quarter, compared to analysts' expectations of $42.64 billion. During the same quarter in the previous year, the company earned $2.62 EPS. The business's revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that General Motors will post 11.44 EPS for the current year.

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

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be paid a $0.15 dividend. 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. This represents a $0.60 annualized dividend and a yield of 1.27%. General Motors's payout ratio is 8.65%.

Analyst Upgrades and Downgrades

GM has been the subject of a number of analyst reports. Royal Bank of Canada raised their target price on shares of General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. UBS Group decreased their price objective on shares of General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a research report on Monday, May 5th. Barclays lifted their price objective on shares of General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Mizuho lifted their price objective 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 analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, General Motors currently has an average rating of "Hold" and an average target price of $54.56.

General Motors 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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