Ritholtz Wealth Management Raises Stock Holdings in General Motors Company (NYSE:GM)

Ritholtz Wealth Management grew its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 76.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,426 shares of the auto manufacturer's stock after buying an additional 11,862 shares during the quarter. Ritholtz Wealth Management's holdings in General Motors were worth $1,290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nemes Rush Group LLC raised its position in shares of General Motors by 18.7% in the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock worth $73,000 after acquiring an additional 217 shares in the last quarter. Operose Advisors LLC raised its holdings in General Motors by 18.7% in the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock worth $75,000 after purchasing an additional 223 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of General Motors by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock valued at $2,856,000 after buying an additional 226 shares during the last quarter. Norden Group LLC grew its position in shares of General Motors by 3.0% in the 4th quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer's stock worth $421,000 after buying an additional 229 shares during the last quarter. Finally, Royal Capital Wealth Management LLC grew its position in shares of General Motors by 5.3% in the 4th quarter. Royal Capital Wealth Management LLC now owns 5,060 shares of the auto manufacturer's stock worth $270,000 after buying an additional 255 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

General Motors Price Performance

GM traded down $0.18 during trading on Wednesday, hitting $48.10. The company's stock had a trading volume of 8,417,996 shares, compared to its average volume of 12,929,187. The firm has a market capitalization of $46.25 billion, a price-to-earnings ratio of 6.93, a P/E/G ratio of 1.32 and a beta of 1.34. General Motors Company has a twelve month low of $38.96 and a twelve month high of $61.24. The business's fifty day simple moving average is $47.40 and its 200 day simple moving average is $48.97. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 1.46.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The firm's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.62 EPS. On average, equities research analysts forecast that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio (DPR) is 8.65%.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GM shares. Citigroup assumed coverage on shares of General Motors in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 target price for the company. Wedbush lowered their price objective on General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. JPMorgan Chase & Co. reduced their target price on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Barclays raised their price target on General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group cut their price objective on shares of General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $53.35.

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.