Machina Capital S.A.S. Acquires New Stake in General Motors Company (NYSE:GM)

Key Points

• Machina Capital S.A.S. acquired 22,518 shares of General Motors, valued at approximately $1,059,000, indicating institutional interest in the auto manufacturer.
• General Motors' stock has received multiple positive ratings from analysts, with Barclays raising its price target to $55.00 and Benchmark establishing a price target of $65.00.
• The company recently announced a quarterly dividend of $0.15 per share, reflecting an annualized dividend yield of 1.12%.

Machina Capital S.A.S. purchased a new position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,518 shares of the auto manufacturer's stock, valued at approximately $1,059,000.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of General Motors during the fourth quarter worth $592,321,000. Assenagon Asset Management S.A. lifted its position in shares of General Motors by 305.6% during the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after purchasing an additional 2,154,037 shares during the last quarter. AustralianSuper Pty Ltd lifted its position in shares of General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after purchasing an additional 1,712,033 shares during the last quarter. National Bank of Canada FI lifted its position 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 worth $178,593,000 after purchasing an additional 1,180,936 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of General Motors by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Performance

NYSE GM traded up $0.37 during trading hours on Monday, reaching $53.77. The stock had a trading volume of 2,345,206 shares, compared to its average volume of 12,318,638. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. General Motors Company has a 52-week low of $38.96 and a 52-week high of $61.24. The stock has a fifty day moving average of $50.23 and a 200 day moving average of $48.70. The stock has a market cap of $51.20 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 1.13 and a beta of 1.32.

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

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio is currently 9.52%.

Analysts Set New Price Targets

Several equities analysts have recently commented on GM shares. UBS Group raised their price target on General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Piper Sandler restated a "neutral" rating and set a $48.00 price target (up previously from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Wedbush restated an "outperform" rating and set a $55.00 price target on shares of General Motors in a research note on Wednesday, July 23rd. Benchmark began coverage on General Motors in a report on Monday, July 21st. They set a "buy" rating and a $65.00 target price for the company. Finally, BNP Paribas upgraded General Motors to a "strong-buy" rating in a report on Monday, May 5th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $56.35.

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.