Occudo Quantitative Strategies LP Makes New $1.99 Million Investment in General Motors (NYSE:GM)

Occudo Quantitative Strategies LP purchased a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 37,339 shares of the auto manufacturer’s stock, valued at approximately $1,989,000.

Several other institutional investors also recently added to or reduced their stakes in GM. Measured Risk Portfolios Inc. bought a new stake in shares of General Motors during the fourth quarter valued at approximately $27,000. Lazard Asset Management LLC grew its position in General Motors by 11.9% in the fourth quarter. Lazard Asset Management LLC now owns 66,239 shares of the auto manufacturer’s stock valued at $3,527,000 after acquiring an additional 7,046 shares during the period. Lighthouse Investment Partners LLC grew its position in General Motors by 528.6% in the fourth quarter. Lighthouse Investment Partners LLC now owns 440,000 shares of the auto manufacturer’s stock valued at $23,439,000 after acquiring an additional 370,000 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of General Motors by 5.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 6,096,169 shares of the auto manufacturer’s stock worth $324,743,000 after purchasing an additional 298,038 shares during the last quarter. Finally, Junto Capital Management LP bought a new stake in shares of General Motors during the fourth quarter worth $37,194,000. 92.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on GM shares. UBS Group decreased their target price on General Motors from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. BNP Paribas upgraded General Motors to a “strong-buy” rating in a report on Monday, May 5th. Mizuho decreased their target price on General Motors from $55.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Royal Bank of Canada increased their target price on General Motors from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Wedbush decreased their target price on General Motors from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Four analysts have rated the stock with a sell rating, ten have assigned 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.com, the company presently has an average rating of “Hold” and an average price target of $54.28.

General Motors Trading Up 4.3%

NYSE:GM opened at $49.57 on Tuesday. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. The business’s 50-day moving average price is $46.65 and its two-hundred day moving average price is $50.04. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $47.65 billion, a price-to-earnings ratio of 8.06, a PEG ratio of 0.67 and a beta of 1.36.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results 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. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The firm had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. During the same quarter in the prior year, the firm posted $2.62 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be issued a $0.15 dividend. This is an increase from General Motors’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, June 6th. General Motors’s dividend payout ratio is 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.