Gulf International Bank UK Ltd Raises Position in General Motors (NYSE:GM)

Gulf International Bank UK Ltd boosted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 0.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,696 shares of the auto manufacturer’s stock after purchasing an additional 666 shares during the quarter. Gulf International Bank UK Ltd’s holdings in General Motors were worth $5,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Highlander Capital Management LLC purchased a new position in General Motors during the fourth quarter worth approximately $27,000. Cape Investment Advisory Inc. raised its position in shares of General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 359 shares during the period. Sachetta LLC purchased a new position in shares of General Motors in the 4th quarter worth $33,000. Bfsg LLC acquired a new position in General Motors in the fourth quarter valued at $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in General Motors during the fourth quarter valued at about $36,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Price Performance

GM stock opened at $47.72 on Friday. The stock’s 50 day moving average is $45.20 and its two-hundred day moving average is $40.95. General Motors has a 52-week low of $26.30 and a 52-week high of $49.35. The company has a market capitalization of $54.45 billion, a PE ratio of 5.83, a P/E/G ratio of 0.55 and a beta of 1.46. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. Analysts predict that General Motors will post 9.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. General Motors’s payout ratio is 5.87%.

General Motors declared that its board has approved a stock buyback plan on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GM shares. Morgan Stanley lifted their price objective on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Barclays boosted their price objective on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Citigroup lifted their target price on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, StockNews.com upgraded General Motors from a “hold” rating to a “buy” rating in a report on Saturday, June 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, General Motors has an average rating of “Moderate Buy” and an average price target of $54.81.

Insider Activity at General Motors

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at approximately $540,315. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the sale, the chief accounting officer now owns 12,007 shares in the company, valued at approximately $540,315. The disclosure for this sale can be found here. Insiders sold a total of 1,183,243 shares of company stock valued at $53,203,153 over the last three months. 0.72% of the stock is owned by insiders.

About General Motors

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.