&Partners Buys Shares of 5,252 General Motors (NYSE:GM)

&Partners bought a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,252 shares of the auto manufacturer’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of General Motors by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock valued at $3,674,861,000 after buying an additional 1,580,681 shares during the period. Putnam Investments LLC lifted its holdings in shares of General Motors by 16.8% in the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after buying an additional 2,905,689 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of General Motors by 21.9% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after buying an additional 3,247,050 shares during the period. Norges Bank acquired a new stake in shares of General Motors in the 4th quarter valued at approximately $602,280,000. Finally, Morgan Stanley lifted its holdings in shares of General Motors by 1.3% in the 3rd quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock valued at $501,562,000 after buying an additional 201,080 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the sale, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at approximately $43,431,657.84. 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 quarter. Company insiders own 0.72% of the company’s stock.

General Motors Stock Performance

NYSE GM opened at $47.72 on Monday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35. The stock has a market cap of $54.45 billion, a price-to-earnings ratio of 5.83, a price-to-earnings-growth ratio of 0.55 and a beta of 1.46. The business has a fifty day moving average of $45.20 and a 200-day moving average of $41.00. 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 released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the previous year, the firm posted $2.21 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts predict that General Motors will post 9.44 earnings per share for the current fiscal year.

General Motors announced that its board has initiated a share buyback plan on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

General Motors Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GM shares. Wells Fargo & Company raised their price target on General Motors from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Wednesday, April 24th. Bank of America reaffirmed a “buy” rating and set a $75.00 price objective on shares of General Motors in a report on Wednesday, June 12th. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Saturday, June 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Finally, Barclays lifted their price objective on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.81.

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.