Jacobs Levy Equity Management Inc. Boosts Stake in General Motors (NYSE:GM)

Jacobs Levy Equity Management Inc. lifted its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 5.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,096,169 shares of the auto manufacturer's stock after purchasing an additional 298,038 shares during the quarter. General Motors accounts for about 1.1% of Jacobs Levy Equity Management Inc.'s holdings, making the stock its 14th largest holding. Jacobs Levy Equity Management Inc. owned approximately 0.61% of General Motors worth $324,743,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GM. Blue Trust Inc. lifted its holdings in General Motors by 19.7% in the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer's stock worth $488,000 after buying an additional 1,510 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of General Motors in the 4th quarter worth approximately $25,404,000. SYM FINANCIAL Corp bought a new position in shares of General Motors in the 4th quarter worth approximately $474,000. Asset Management One Co. Ltd. raised its position in shares of General Motors by 9.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer's stock worth $25,178,000 after acquiring an additional 39,474 shares in the last quarter. Finally, Avantra Family Wealth Inc. bought a new position in shares of General Motors in the 4th quarter worth approximately $1,044,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GM shares. StockNews.com lowered General Motors from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft lowered 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. Wedbush reduced their target price on General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. The Goldman Sachs Group reduced their target price on General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Piper Sandler lifted their target price on General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Four 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. According to MarketBeat, General Motors has a consensus rating of "Hold" and a consensus price target of $54.28.

General Motors Stock Performance

NYSE GM traded up $0.17 on Wednesday, hitting $50.63. 1,523,108 shares of the company traded hands, compared to its average volume of 13,386,111. The company has a market capitalization of $48.67 billion, a price-to-earnings ratio of 8.24, 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 business's 50 day moving average price is $46.71 and its 200-day moving average price is $50.05. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $42.64 billion. During the same period in the previous year, the business earned $2.62 earnings per share. The business's revenue was up 2.3% on a year-over-year basis. Equities analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership 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. Stockholders of record on Friday, June 6th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.19%. This is an increase from General Motors's previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. General Motors's payout ratio is presently 8.65%.

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.