General Motors (NYSE:GM) Stake Lessened by USS Investment Management Ltd

USS Investment Management Ltd reduced its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 33.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,942 shares of the auto manufacturer's stock after selling 60,647 shares during the period. USS Investment Management Ltd's holdings in General Motors were worth $6,496,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Trust Point Inc. boosted its stake in General Motors by 2.7% in the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock valued at $386,000 after acquiring an additional 193 shares during the period. Holistic Planning LLC lifted its holdings in shares of General Motors by 3.9% in the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer's stock worth $307,000 after purchasing an additional 214 shares during the last quarter. Nemes Rush Group LLC lifted its holdings 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 purchasing an additional 217 shares during the last quarter. Operose Advisors LLC boosted its position in General Motors by 18.7% during the 4th quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock valued at $75,000 after purchasing an additional 223 shares during the period. Finally, Bessemer Group Inc. grew its stake in General Motors by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after buying an additional 226 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Price Performance

General Motors stock traded up $0.38 during midday trading on Tuesday, hitting $49.07. The company's stock had a trading volume of 3,940,144 shares, compared to its average volume of 13,149,369. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $47.17 billion, a PE ratio of 7.98, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. The stock's 50-day moving average price is $46.96 and its 200-day moving average price is $49.82.

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

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

General Motors Increases Dividend

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

Analyst Ratings Changes

GM has been the topic of a number of recent research reports. TD Cowen began coverage on General Motors in a research note on Friday, March 7th. They issued a "buy" rating and a $105.00 target price on the stock. Royal Bank of Canada lifted their price objective 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. JPMorgan Chase & Co. decreased their target price on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Mizuho raised their price target on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Wedbush reduced 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. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $54.56.

About General Motors

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.