Foster & Motley Inc. Buys 29,332 Shares of General Motors Company (NYSE:GM)

Foster & Motley Inc. lifted its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 32.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 119,500 shares of the auto manufacturer’s stock after buying an additional 29,332 shares during the period. Foster & Motley Inc.’s holdings in General Motors were worth $5,620,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in General Motors by 305.6% during the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer’s stock worth $134,457,000 after purchasing an additional 2,154,037 shares during the period. AustralianSuper Pty Ltd lifted its stake in General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock worth $287,428,000 after purchasing an additional 1,712,033 shares during the period. National Bank of Canada FI lifted its stake in 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 worth $178,593,000 after purchasing an additional 1,180,936 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in General Motors during the fourth quarter worth about $60,198,000. Finally, Victory Capital Management Inc. lifted its stake in General Motors by 51.0% during the first quarter. Victory Capital Management Inc. now owns 3,148,956 shares of the auto manufacturer’s stock worth $148,095,000 after purchasing an additional 1,063,606 shares during the period. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GM shares. Citigroup raised their price target on shares of General Motors from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Benchmark started coverage on shares of General Motors in a report on Monday, July 21st. They set a “buy” rating and a $65.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of General Motors from $34.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday, July 23rd. Piper Sandler reaffirmed a “neutral” rating and set a $48.00 price objective (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a report on Monday, April 14th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and an average target price of $56.35.

General Motors Price Performance

GM opened at $52.13 on Wednesday. The company has a fifty day moving average price of $50.33 and a two-hundred day moving average price of $48.75. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. General Motors Company has a 52 week low of $38.96 and a 52 week high of $61.24. The firm has a market capitalization of $49.63 billion, a PE ratio of 8.27, a P/E/G ratio of 1.13 and a beta of 1.32.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. During the same quarter in the previous year, the business earned $3.06 EPS. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, analysts anticipate that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.15%. General Motors’s dividend payout ratio is 9.52%.

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.