Summit Global Investments Purchases 1,109 Shares of General Motors (NYSE:GM)

Summit Global Investments grew its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,020 shares of the auto manufacturer’s stock after purchasing an additional 1,109 shares during the quarter. Summit Global Investments’ holdings in General Motors were worth $432,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Los Angeles Capital Management LLC increased its holdings in General Motors by 1,232.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 96,077 shares of the auto manufacturer’s stock valued at $3,451,000 after buying an additional 88,868 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of General Motors by 14.8% in the 4th quarter. Natixis Advisors L.P. now owns 1,273,773 shares of the auto manufacturer’s stock worth $45,753,000 after purchasing an additional 164,318 shares in the last quarter. Fisher Asset Management LLC raised its holdings in General Motors by 0.5% in the 4th quarter. Fisher Asset Management LLC now owns 6,497,100 shares of the auto manufacturer’s stock worth $233,376,000 after purchasing an additional 30,641 shares during the period. Rogco LP lifted its position in General Motors by 86.9% during the fourth quarter. Rogco LP now owns 3,412 shares of the auto manufacturer’s stock valued at $123,000 after purchasing an additional 1,586 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in General Motors by 26.4% during the fourth quarter. First Trust Direct Indexing L.P. now owns 19,654 shares of the auto manufacturer’s stock valued at $706,000 after purchasing an additional 4,105 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In related news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock worth $3,614,078 in the last quarter. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GM shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Redburn Atlantic assumed coverage on General Motors in a report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price target on the stock. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. UBS Group lifted their target price on General Motors from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.65.

General Motors Stock Up 0.4 %

NYSE GM opened at $44.86 on Monday. General Motors has a 52 week low of $26.30 and a 52 week high of $46.17. The firm has a market capitalization of $51.18 billion, a price-to-earnings ratio of 5.48, a PEG ratio of 0.53 and a beta of 1.49. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The company has a fifty day moving average of $42.84 and a two-hundred day moving average of $36.89.

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

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

General Motors Company 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.