Patient Capital Management LLC Lowers Holdings in General Motors (NYSE:GM)

Patient Capital Management LLC cut its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,531,144 shares of the auto manufacturer's stock after selling 18,930 shares during the quarter. General Motors accounts for 3.8% of Patient Capital Management LLC's portfolio, making the stock its 9th largest position. Patient Capital Management LLC owned about 0.15% of General Motors worth $81,564,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of General Motors in the 4th quarter worth $25,000. Crews Bank & Trust acquired a new position in shares of General Motors in the 4th quarter worth $26,000. Compass Planning Associates Inc acquired a new position in shares of General Motors in the 4th quarter worth $27,000. Duncker Streett & Co. Inc. grew its holdings in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock worth $27,000 after acquiring an additional 498 shares during the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of General Motors by 551.9% in the 4th 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. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Up 0.5%

Shares of NYSE:GM traded up $0.24 on Friday, reaching $50.36. The company had a trading volume of 6,097,005 shares, compared to its average volume of 13,388,946. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The stock has a 50-day moving average price of $46.85 and a 200 day moving average price of $50.02. The stock has a market capitalization of $48.42 billion, a P/E ratio of 8.19, a P/E/G ratio of 0.67 and a beta of 1.36. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

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 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $42.64 billion. During the same quarter in the previous year, the firm earned $2.62 EPS. The firm's revenue was up 2.3% compared to the same quarter last year. On average, equities analysts expect that General Motors will post 11.44 EPS for the current year.

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

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, June 6th. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's payout ratio is currently 8.65%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GM. StockNews.com cut General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Wells Fargo & Company reiterated an "underweight" rating on shares of General Motors in a report on Monday, February 3rd. Mizuho lifted their price target on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Friday. The Goldman Sachs Group lowered their price target on General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Barclays lifted their price target on General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $54.56.

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.