First Hawaiian Bank Sells 2,779 Shares of General Motors (NYSE:GM)

First Hawaiian Bank lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,688 shares of the auto manufacturer’s stock after selling 2,779 shares during the period. First Hawaiian Bank’s holdings in General Motors were worth $2,243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in shares of General Motors by 456.1% in the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer’s stock valued at $2,062,000 after acquiring an additional 31,755 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of General Motors by 19.7% in the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after acquiring an additional 1,510 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of General Motors by 2.8% in the 4th quarter. Perigon Wealth Management LLC now owns 19,443 shares of the auto manufacturer’s stock valued at $1,008,000 after acquiring an additional 532 shares during the last quarter. Foster & Motley Inc. lifted its holdings in shares of General Motors by 91.2% in the 4th quarter. Foster & Motley Inc. now owns 90,168 shares of the auto manufacturer’s stock valued at $4,803,000 after acquiring an additional 42,999 shares during the last quarter. Finally, Gries Financial LLC lifted its holdings in shares of General Motors by 4.4% in the 4th quarter. Gries Financial LLC now owns 6,605 shares of the auto manufacturer’s stock valued at $352,000 after acquiring an additional 277 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of NYSE:GM opened at $48.56 on Friday. The firm has a market cap of $46.69 billion, a PE ratio of 7.90, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. The firm’s 50 day simple moving average is $46.86 and its 200-day simple moving average is $49.74. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

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 (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. General Motors’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.62 earnings per share. As a group, equities analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors declared 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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 issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.24%. This is a positive change from General Motors’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. General Motors’s dividend payout ratio (DPR) is presently 8.65%.

Analysts Set New Price Targets

A number of brokerages recently commented on GM. UBS Group lowered their price target on shares of General Motors from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a research report on Monday, May 5th. The Goldman Sachs Group reduced their price objective on shares of General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. reduced their price objective on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Finally, Cowen initiated coverage on shares of General Motors in a research report on Thursday, March 6th. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors has a consensus rating of “Hold” and a consensus target price of $54.56.

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.