UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $402.48 Million Position in General Motors (NYSE:GM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,555,521 shares of the auto manufacturer’s stock after purchasing an additional 48,525 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in General Motors were worth $402,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in General Motors during the 4th quarter worth approximately $25,000. Crews Bank & Trust acquired a new stake in General Motors during the 4th quarter worth approximately $26,000. Measured Risk Portfolios Inc. acquired a new position in General Motors in the 4th quarter valued at $27,000. Compass Planning Associates Inc acquired a new position in General Motors in the 4th quarter valued at $27,000. Finally, Whittier Trust Co. raised its holdings in General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 425 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on GM. JPMorgan Chase & Co. dropped their price objective on General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Mizuho lifted their price objective on General Motors from $53.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, May 16th. The Goldman Sachs Group dropped their price objective on General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Sanford C. Bernstein set a $36.00 price objective on General Motors in a report on Monday, May 5th. Finally, Wedbush dropped their price objective on General Motors from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, General Motors presently has an average rating of “Hold” and an average price target of $54.56.

General Motors Trading Up 0.3%

Shares of GM stock opened at $50.20 on Wednesday. The firm has a market capitalization of $48.26 billion, a P/E ratio of 8.16, a P/E/G ratio of 0.67 and a beta of 1.36. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The stock’s fifty day simple moving average is $46.95 and its 200 day simple moving average is $50.00.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.15. The business had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. General Motors’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.62 EPS. As a group, sell-side analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. This is a positive change from General Motors’s previous quarterly dividend of $0.12. General Motors’s payout ratio is currently 8.65%.

General Motors announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.