Neo Ivy Capital Management Invests $360,000 in General Motors (NYSE:GM)

Neo Ivy Capital Management acquired a new stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,759 shares of the auto manufacturer's stock, valued at approximately $360,000.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in shares of General Motors in the 4th quarter worth approximately $592,321,000. Amundi lifted its holdings 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 acquiring an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC lifted its holdings in shares of General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock worth $394,060,000 after acquiring an additional 2,104,528 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of General Motors in the 4th quarter worth approximately $108,366,000. Finally, National Bank of Canada FI lifted its holdings 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 acquiring an additional 1,180,936 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GM has been the topic of several analyst reports. TD Cowen initiated coverage on shares of General Motors in a research note on Friday, March 7th. They issued a "buy" rating and a $105.00 target price on the stock. BNP Paribas raised shares of General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Wells Fargo & Company reaffirmed an "underweight" rating on shares of General Motors in a research note on Monday, February 3rd. Mizuho lifted their target price on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Wedbush decreased their target price on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, General Motors has an average rating of "Hold" and an average price target of $54.56.

General Motors Price Performance

GM traded up $0.34 on Tuesday, reaching $49.03. 8,934,983 shares of the company's stock were exchanged, compared to its average volume of 13,325,462. The stock has a market cap of $47.14 billion, a PE ratio of 7.97, a P/E/G ratio of 0.67 and a beta of 1.36. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The stock's fifty day moving average price is $46.96 and its 200-day moving average price is $49.82. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The company had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. During the same period in the previous year, the firm earned $2.62 earnings per share. General Motors's quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. This is an increase from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is presently 8.65%.

General Motors declared that its Board of Directors has approved a share 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 buy up to 12.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

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.