Raiffeisen Bank International AG Makes New $732,000 Investment in General Motors (NYSE:GM)

Raiffeisen Bank International AG acquired a new stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,646 shares of the auto manufacturer's stock, valued at approximately $732,000.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. lifted its holdings in shares of 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 purchasing an additional 1,170,816 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 176,436 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of 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 purchasing an additional 228,408 shares during the period. Norges Bank acquired a new stake in shares of General Motors during the fourth quarter worth $592,321,000. Finally, Northern Trust Corp raised its position in General Motors by 8.1% in 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 in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Price Performance

Shares of GM traded down $0.82 during trading hours on Wednesday, reaching $49.39. 7,513,427 shares of the company traded hands, compared to its average volume of 13,347,555. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $47.49 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The stock has a fifty day simple moving average of $46.95 and a 200 day simple moving average of $50.00.

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 (EPS) for the quarter, topping 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 firm had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. During the same period last year, the company earned $2.62 EPS. The firm's quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its Board of Directors has initiated a share repurchase 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 purchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. This is a positive change 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 presently 8.65%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wedbush cut their price objective 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. Deutsche Bank Aktiengesellschaft cut 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. Wells Fargo & Company reiterated an "underweight" rating on shares of General Motors in a research report on Monday, February 3rd. Piper Sandler increased their price objective on General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Finally, BNP Paribas upgraded General Motors to a "strong-buy" rating in a research report on Monday, May 5th. 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 an average rating of "Hold" and an average 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.