NorthRock Partners LLC Has $758,000 Position in General Motors (NYSE:GM)

NorthRock Partners LLC grew its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 80.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,233 shares of the auto manufacturer's stock after buying an additional 6,367 shares during the quarter. NorthRock Partners LLC's holdings in General Motors were worth $758,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in General Motors by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock worth $1,559,380,000 after acquiring an additional 1,170,816 shares during the period. Geode Capital Management LLC grew its holdings in General Motors by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer's stock worth $1,264,567,000 after acquiring an additional 176,436 shares during the period. Dimensional Fund Advisors LP grew its holdings in General Motors by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock worth $749,382,000 after acquiring an additional 228,408 shares during the period. Norges Bank acquired a new position in General Motors during the fourth quarter worth about $592,321,000. Finally, Northern Trust Corp grew its holdings in General Motors by 8.1% during the fourth quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock worth $582,251,000 after acquiring an additional 822,454 shares during the period. 92.67% of the stock is owned by institutional investors.

General Motors Stock Down 0.8%

Shares of General Motors stock traded down $0.40 during trading on Monday, hitting $49.97. 9,405,505 shares of the stock traded hands, compared to its average volume of 13,380,912. The stock has a market cap of $48.04 billion, a P/E ratio of 8.13, a PEG ratio of 0.67 and a beta of 1.36. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a fifty day moving average price of $46.85 and a two-hundred day moving average price of $50.00.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced 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 business had revenue of $44.02 billion during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $2.62 EPS. Equities research analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its board has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board 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. Investors 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. This represents a $0.60 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, June 6th. General Motors's payout ratio is 8.65%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GM shares. Wedbush decreased their price target 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. Barclays boosted their price objective on General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Royal Bank of Canada boosted their price objective on General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. The Goldman Sachs Group cut their price objective 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, Piper Sandler boosted their price objective on General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.