Brighton Jones LLC Raises Stock Position in General Motors (NYSE:GM)

Brighton Jones LLC lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 7.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,470 shares of the auto manufacturer’s stock after purchasing an additional 2,753 shares during the period. Brighton Jones LLC’s holdings in General Motors were worth $1,950,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of General Motors in the 4th quarter valued at about $592,321,000. Assenagon Asset Management S.A. raised its stake in General Motors by 305.6% in the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer’s stock worth $134,457,000 after buying an additional 2,154,037 shares in the last quarter. Amundi lifted its holdings in General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after buying an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC lifted its holdings in General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after buying an additional 2,104,528 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of General Motors in the 4th quarter valued at $108,366,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the topic of a number of recent research reports. Barclays raised their price objective on General Motors from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. BNP Paribas raised shares of General Motors to a “strong-buy” rating in a research report on Monday, May 5th. Cowen started coverage on shares of General Motors in a research report on Thursday, March 6th. They set a “buy” rating for the company. JPMorgan Chase & Co. lowered 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. Finally, Wedbush reduced their price target on General Motors from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.35.

General Motors Price Performance

Shares of NYSE:GM opened at $48.62 on Monday. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. 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 company has a market cap of $46.74 billion, a PE ratio of 7.91, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. The company’s 50 day moving average is $47.21 and its 200 day moving average is $49.02.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.15. The firm 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%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.62 earnings per share. On average, sell-side analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The business also recently announced 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 1.23%. 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 8.65%.

General Motors announced that its board has approved a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to reacquire 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.

About General Motors

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.