Family Management Corp Purchases 1,505 Shares of General Motors (NYSE:GM)

by · The Cerbat Gem

Family Management Corp raised its holdings in General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,668 shares of the auto manufacturer’s stock after buying an additional 1,505 shares during the quarter. Family Management Corp’s holdings in General Motors were worth $1,900,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. raised its position in shares of General Motors by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock valued at $1,559,380,000 after purchasing an additional 1,170,816 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of General Motors by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock worth $1,264,567,000 after buying an additional 176,436 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of General Motors by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer’s stock worth $749,382,000 after buying an additional 228,408 shares during the period. Norges Bank purchased a new stake in shares of General Motors during the fourth quarter valued at $592,321,000. Finally, Northern Trust Corp increased its position in shares of General Motors by 8.1% in the 4th quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer’s stock valued at $582,251,000 after acquiring an additional 822,454 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

NYSE GM opened at $45.49 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The stock has a 50-day moving average of $46.58 and a 200 day moving average of $50.15. The stock has a market capitalization of $43.95 billion, a price-to-earnings ratio of 7.40, a PEG ratio of 0.67 and a beta of 1.36.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.15. The firm had revenue of $44.02 billion for the quarter, compared to analysts’ expectations of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.62 EPS. Sell-side analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

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

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be paid 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 dividend yield of 1.32%. This is a boost from General Motors’s previous quarterly dividend of $0.12. General Motors’s payout ratio is currently 8.65%.

Analyst Upgrades and Downgrades

GM has been the subject of a number of research reports. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Mizuho decreased their target price on General Motors from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Barclays increased their price target on shares of General Motors from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday. Piper Sandler lifted their price objective on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Finally, Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $54.28.

Check Out Our Latest Analysis on General Motors

General Motors Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM – Free Report) (TSE:GMM.U).