Northpointe Capital LLC increased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,969 shares of the auto manufacturer’s stock after purchasing an additional 4,906 shares during the period. Northpointe Capital LLC’s holdings in General Motors were worth $2,522,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in GM. Signet Investment Advisory Group Inc. acquired a new stake in shares of General Motors during the fourth quarter worth $26,000. Cornerstone Advisors Inc. grew its stake in General Motors by 63.0% in the fourth quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 346 shares during the period. NuWave Investment Management LLC grew its stake in General Motors by 198.6% in the fourth quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 588 shares during the period. Liberty Wealth Management LLC acquired a new position in General Motors in the fourth quarter valued at about $30,000. Finally, Advisors Preferred LLC acquired a new position in General Motors in the fourth quarter valued at about $31,000. 77.58% of the stock is owned by institutional investors and hedge funds.
In other General Motors news, CFO Dhivya Suryadevara sold 34,756 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.40, for a total transaction of $1,299,874.40. Following the transaction, the chief financial officer now owns 10,741 shares of the company’s stock, valued at $401,713.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alan S. Batey sold 70,266 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $38.39, for a total value of $2,697,511.74. Following the transaction, the insider now directly owns 205,906 shares in the company, valued at approximately $7,904,731.34. The disclosure for this sale can be found here. Insiders have sold 113,521 shares of company stock worth $4,337,346 in the last quarter. 0.39% of the stock is currently owned by corporate insiders.
GM traded up $0.38 on Wednesday, hitting $40.04. 2,841,643 shares of the company were exchanged, compared to its average volume of 7,044,005. General Motors has a 12 month low of $30.56 and a 12 month high of $45.00. The firm has a market capitalization of $55.77 billion, a PE ratio of 6.12, a PEG ratio of 0.69 and a beta of 1.27. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.80 and a current ratio of 0.92.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Wednesday, February 6th. The auto manufacturer reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.22. General Motors had a return on equity of 23.99% and a net margin of 5.45%. The business had revenue of $38.40 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. General Motors’s revenue was up 1.8% on a year-over-year basis. On average, research analysts forecast that General Motors will post 6.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.52 annualized dividend and a yield of 3.80%. General Motors’s payout ratio is presently 23.24%.
A number of research firms have issued reports on GM. Goldman Sachs Group reissued a “neutral” rating and issued a $36.00 target price on shares of General Motors in a research note on Tuesday, March 26th. Zacks Investment Research cut General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. BMO Capital Markets boosted their price target on General Motors from $41.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, January 14th. Barclays restated a “buy” rating and issued a $49.00 price target on shares of General Motors in a report on Monday, January 14th. Finally, Buckingham Research set a $34.00 price target on General Motors and gave the company a “hold” rating in a report on Friday, January 11th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. General Motors has a consensus rating of “Buy” and a consensus price target of $47.20.
About General Motors
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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