Man Group plc increased its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 32.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,196,206 shares of the auto manufacturer's stock after acquiring an additional 544,237 shares during the period. Man Group plc owned approximately 0.22% of General Motors worth $116,992,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in General Motors during the 4th quarter worth approximately $25,000. Crews Bank & Trust acquired a new position in General Motors during the 4th quarter worth approximately $26,000. Compass Planning Associates Inc acquired a new position in General Motors during the 4th quarter worth approximately $27,000. Duncker Streett & Co. Inc. lifted its position in 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 acquiring an additional 498 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in General Motors by 551.9% during 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 in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently commented on GM. The Goldman Sachs Group reduced their price target on General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. UBS Group reduced their price target on General Motors from $51.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. dropped their price objective on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Sanford C. Bernstein set a $36.00 price objective on General Motors in a report on Monday, May 5th. Finally, Wells Fargo & Company restated an "underweight" rating on shares of General Motors in a report on Monday, February 3rd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $54.56.
View Our Latest Stock Report on GM
General Motors Stock Performance
Shares of NYSE GM traded up $0.24 during trading on Friday, reaching $50.36. The stock had a trading volume of 6,097,005 shares, compared to its average volume of 13,388,945. General Motors has a one year low of $38.96 and a one year high of $61.24. 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 stock has a market cap of $48.42 billion, a PE ratio of 8.19, a P/E/G ratio of 0.67 and a beta of 1.36. The firm's 50 day moving average price is $46.85 and its two-hundred day moving average price is $50.02.
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 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $42.64 billion. During the same period in the previous year, the business earned $2.62 EPS. The business's quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.
General Motors declared that its board has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
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 issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis 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 of this dividend is Friday, June 6th. General Motors's payout ratio is 8.65%.
About General Motors
(
Free Report)
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.
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