Nuveen Asset Management LLC Cuts Stock Holdings in General Motors (NYSE:GM)

Nuveen Asset Management LLC cut its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,900,282 shares of the auto manufacturer's stock after selling 396,507 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.69% of General Motors worth $367,578,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GM. Norges Bank bought a new position in shares of General Motors during the fourth quarter valued at about $592,321,000. Amundi grew its position in General Motors by 75.5% during the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock worth $250,627,000 after acquiring an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC increased its stake in General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock worth $394,060,000 after purchasing an additional 2,104,528 shares during the period. Raymond James Financial Inc. bought a new stake in General Motors in the fourth quarter valued at approximately $108,366,000. Finally, National Bank of Canada FI boosted its stake in shares of General Motors by 54.4% during the fourth quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock valued at $178,593,000 after purchasing an additional 1,180,936 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Up 0.5%

Shares of General Motors stock traded up $0.24 during trading on Friday, hitting $50.36. The company's stock had a trading volume of 6,097,005 shares, compared to its average volume of 13,396,882. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a market capitalization 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 company has a fifty day simple moving average of $46.85 and a two-hundred day simple moving average of $50.01. 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 (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 for the quarter, beating 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 business had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. During the same quarter last year, the firm earned $2.62 earnings per share. The business's revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts predict that General Motors will post 11.44 earnings per share for the current year.

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

General Motors Increases Dividend

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

Analysts Set New Price Targets

Several research analysts recently commented on GM shares. Mizuho lifted their target price on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday. Wedbush decreased their price objective on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price for the company. in a report on Monday, April 14th. 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 report on Thursday, April 10th. Finally, Citigroup began coverage on General Motors in a report on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, General Motors presently has a consensus rating of "Hold" and a consensus price target of $54.56.

General Motors 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.