Bridgeway Capital Management LLC Sells 17,600 Shares of General Motors (NYSE:GM)

Bridgeway Capital Management LLC decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 15.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 99,400 shares of the auto manufacturer’s stock after selling 17,600 shares during the period. Bridgeway Capital Management LLC’s holdings in General Motors were worth $5,295,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of General Motors during the fourth quarter worth about $25,000. Crews Bank & Trust bought a new position in shares of General Motors during the 4th quarter worth approximately $26,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $27,000. Duncker Streett & Co. Inc. boosted its holdings in General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares during the last quarter. Finally, Whittier Trust Co. grew its position in General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 425 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GM shares. Royal Bank of Canada raised their price objective on General Motors from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. UBS Group dropped their price objective on General Motors from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $54.28.

General Motors Stock Up 0.1 %

Shares of 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 12 month low of $38.96 and a 12 month high of $61.24. The firm’s 50 day moving average is $46.58 and its 200-day moving average is $50.15. The stock has a market capitalization of $43.95 billion, a PE ratio of 7.40, a P/E/G ratio of 0.67 and a beta of 1.36.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.15. The firm had revenue of $44.02 billion during the quarter, compared to analysts’ expectations of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.62 EPS. Equities research analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors declared that its Board of Directors has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from General Motors’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.32%. General Motors’s payout ratio is presently 8.65%.

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.