Wellington Management Group LLP Purchases 7,081 Shares of General Motors (NYSE:GM)

Wellington Management Group LLP boosted its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,195,961 shares of the auto manufacturer's stock after acquiring an additional 7,081 shares during the quarter. Wellington Management Group LLP owned 0.12% of General Motors worth $63,709,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GM. NorthCrest Asset Manangement LLC acquired a new position in General Motors in the 4th quarter valued at $233,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in General Motors in the 4th quarter valued at about $25,824,000. Centaurus Financial Inc. grew its position in shares of General Motors by 13.9% in the fourth quarter. Centaurus Financial Inc. now owns 14,451 shares of the auto manufacturer's stock valued at $770,000 after purchasing an additional 1,769 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of General Motors during the fourth quarter valued at $60,198,000. Finally, LM Advisors LLC acquired a new stake in shares of General Motors during the 4th quarter worth about $228,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Analyst Ratings Changes

GM has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their target price on General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Citigroup started coverage on General Motors in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 target price on the stock. Royal Bank of Canada increased their price objective on shares of General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Wedbush lowered their price target on General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Cowen started coverage on shares of General Motors in a research note on Thursday, March 6th. They issued a "buy" rating on the stock. Four equities research 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $54.56.

General Motors Stock Up 2.0%

Shares of GM traded up $0.99 during trading hours on Friday, reaching $49.58. The stock had a trading volume of 17,702,817 shares, compared to its average volume of 13,318,507. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a market capitalization of $47.67 billion, a price-to-earnings ratio of 8.06, a P/E/G ratio of 0.67 and a beta of 1.36. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The firm has a 50-day simple moving average of $46.80 and a 200 day simple moving average of $49.69.

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 analysts' consensus estimates of $2.63 by $0.15. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The business had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. During the same period last year, the company posted $2.62 earnings per share. General Motors's quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has approved a stock buyback plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be issued a $0.15 dividend. This is a positive change from General Motors's previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.21%. General Motors's dividend payout ratio is presently 8.65%.

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.