Victory Capital Management Inc. Acquires 1,063,606 Shares of General Motors Company (NYSE:GM)

Victory Capital Management Inc. lifted its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 51.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,148,956 shares of the auto manufacturer's stock after purchasing an additional 1,063,606 shares during the period. Victory Capital Management Inc. owned 0.33% of General Motors worth $148,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Franklin Resources Inc. raised its stake in shares of General Motors by 4.2% during the 4th 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of General Motors by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer's stock worth $1,264,567,000 after purchasing an additional 176,436 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of General Motors by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock worth $749,382,000 after purchasing an additional 228,408 shares in the last quarter. Norges Bank bought a new stake in shares of General Motors during the 4th quarter worth approximately $592,321,000. Finally, Northern Trust Corp raised its stake in shares of General Motors by 8.1% during the 4th quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock worth $582,251,000 after purchasing an additional 822,454 shares in the last quarter. Institutional investors own 92.67% of the company's stock.

General Motors Price Performance

General Motors stock traded up $0.02 during mid-day trading on Friday, reaching $53.23. 6,492,930 shares of the company were exchanged, compared to its average volume of 12,189,420. The company has a fifty day simple moving average of $49.90 and a 200-day simple moving average of $48.74. General Motors Company has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04. The firm has a market cap of $51.18 billion, a PE ratio of 7.67, a PEG ratio of 1.43 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data 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 return on equity of 14.30% and a net margin of 3.08%. The firm had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. During the same quarter last year, the company earned $2.62 EPS. The company's revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Friday, June 6th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Friday, June 6th. This is a positive change from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio (DPR) is 8.65%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GM shares. Mizuho raised their price objective on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Industrial Alliance Securities set a $70.00 price objective on General Motors in a research report on Friday, July 11th. Wedbush cut 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. Royal Bank Of Canada raised their price objective on General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft cut General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective for the company. in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, General Motors currently has an average rating of "Hold" and an average target price of $55.17.

General Motors Company 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.