Cary Street Partners Financial LLC Acquires Shares of 3,307 General Motors (NYSE:GM)

Cary Street Partners Financial LLC bought a new position in General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,307 shares of the auto manufacturer’s stock, valued at approximately $176,000.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in General Motors by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,268,096 shares of the auto manufacturer’s stock worth $56,861,000 after purchasing an additional 13,206 shares during the period. Czech National Bank raised its stake in General Motors by 4.1% during the 4th quarter. Czech National Bank now owns 238,415 shares of the auto manufacturer’s stock valued at $12,700,000 after purchasing an additional 9,461 shares during the period. Wedmont Private Capital boosted its position in shares of General Motors by 12.2% in the fourth quarter. Wedmont Private Capital now owns 9,968 shares of the auto manufacturer’s stock worth $497,000 after buying an additional 1,082 shares during the period. Cooper Financial Group boosted its position in shares of General Motors by 15.6% in the fourth quarter. Cooper Financial Group now owns 11,967 shares of the auto manufacturer’s stock worth $637,000 after buying an additional 1,615 shares during the period. Finally, Miracle Mile Advisors LLC grew its holdings in shares of General Motors by 113.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 10,459 shares of the auto manufacturer’s stock valued at $557,000 after buying an additional 5,549 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GM has been the subject of several research analyst reports. Royal Bank of Canada increased their price objective on General Motors from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. BNP Paribas raised shares of General Motors to a “strong-buy” rating in a research report on Monday, May 5th. TD Cowen started coverage on shares of General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their target price on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.28.

General Motors Stock Up 0.3%

Shares of General Motors stock opened at $47.51 on Monday. General Motors has a 12-month low of $38.96 and a 12-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 has a 50 day moving average price of $46.63 and a two-hundred day moving average price of $50.06. The stock has a market capitalization of $45.68 billion, a P/E ratio of 7.73, a PEG ratio of 0.67 and a beta of 1.36.

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

General Motors Increases Dividend

The firm 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. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, June 6th. This is a boost 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 stock repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are 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.