Olstein Capital Management L.P. Buys 22,000 Shares of General Motors (NYSE:GM)

Olstein Capital Management L.P. lifted its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 18.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,000 shares of the auto manufacturer's stock after buying an additional 22,000 shares during the quarter. Olstein Capital Management L.P.'s holdings in General Motors were worth $6,772,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in General Motors in the 4th quarter worth approximately $25,000. Compass Planning Associates Inc purchased a new position in shares of General Motors in the fourth quarter worth $27,000. Duncker Streett & Co. Inc. lifted its holdings in shares of General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock worth $27,000 after buying an additional 498 shares in the last quarter. Whittier Trust Co. boosted its position in shares of General Motors by 551.9% during the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after acquiring an additional 425 shares during the last quarter. Finally, Measured Risk Portfolios Inc. purchased a new position in General Motors during the fourth quarter valued at $27,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Down 1.2%

Shares of NYSE GM traded down $0.59 during mid-day trading on Thursday, reaching $49.28. The company had a trading volume of 6,600,135 shares, compared to its average volume of 13,032,884. The stock has a market cap of $47.38 billion, a price-to-earnings ratio of 8.01, a price-to-earnings-growth 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. The business's 50-day moving average is $46.97 and its 200-day moving average is $49.23. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

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 business had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. During the same period in the prior year, the firm earned $2.62 EPS. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 annualized dividend and a dividend yield of 1.22%. This is a positive change from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio (DPR) is currently 8.65%.

General Motors declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have commented on GM. Citigroup began coverage on shares of General Motors in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price target on the stock. Cowen began coverage on General Motors in a report on Thursday, March 6th. They issued a "buy" rating on the stock. 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 report on Thursday, May 22nd. TD Cowen began coverage on General Motors in a research note on Friday, March 7th. They issued a "buy" rating and a $105.00 price objective on the stock. Finally, Mizuho increased their target price on 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 issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.