Lighthouse Investment Partners LLC Acquires 370,000 Shares of General Motors (NYSE:GM)

Lighthouse Investment Partners LLC lifted its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 528.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 440,000 shares of the auto manufacturer's stock after acquiring an additional 370,000 shares during the period. General Motors comprises approximately 0.8% of Lighthouse Investment Partners LLC's holdings, making the stock its 21st largest holding. Lighthouse Investment Partners LLC's holdings in General Motors were worth $23,439,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in General Motors in the 4th quarter valued at approximately $25,000. Crews Bank & Trust acquired a new stake in General Motors in the fourth quarter worth about $26,000. Compass Planning Associates Inc bought a new position in General Motors in the 4th quarter valued at about $27,000. Whittier Trust Co. increased its stake in General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 425 shares during the period. Finally, Duncker Streett & Co. Inc. raised its position in shares of General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock worth $27,000 after buying an additional 498 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GM shares. Wedbush cut their price target on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Sanford C. Bernstein set a $36.00 price target on General Motors in a report on Monday, May 5th. StockNews.com lowered General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. UBS Group dropped their target price on shares of General Motors from $51.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, TD Cowen initiated coverage on shares of General Motors in a research report on Friday, March 7th. They issued a "buy" rating and a $105.00 price target for the company. Four analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $54.28.

General Motors Price Performance

Shares of GM stock traded down $0.26 during mid-day trading on Thursday, reaching $50.05. The company's stock had a trading volume of 7,218,953 shares, compared to its average volume of 13,400,504. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The company has a market cap of $48.12 billion, a P/E ratio of 8.14, a PEG ratio of 0.67 and a beta of 1.36. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. The firm's 50-day moving average is $46.77 and its two-hundred day moving average is $50.05.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The company had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. During the same period in the prior year, the business earned $2.62 earnings per share. General Motors's quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from General Motors's previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. General Motors's dividend payout ratio (DPR) is currently 8.65%.

General Motors announced that its Board of Directors has approved a share buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

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.