Jacobs Levy Equity Management Inc. Raises Stock Position in General Motors (NYSE:GM)

Jacobs Levy Equity Management Inc. raised its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,096,169 shares of the auto manufacturer’s stock after acquiring an additional 298,038 shares during the quarter. General Motors makes up about 1.1% of Jacobs Levy Equity Management Inc.’s investment portfolio, making the stock its 14th biggest position. Jacobs Levy Equity Management Inc. owned about 0.61% of General Motors worth $324,743,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in General Motors during the fourth quarter valued at $25,000. Crews Bank & Trust bought a new stake in shares of General Motors in the fourth quarter worth about $26,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors in the fourth quarter worth about $27,000. Whittier Trust Co. boosted its stake in General Motors by 551.9% during the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 425 shares during the last quarter. Finally, Duncker Streett & Co. Inc. grew its holdings in General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 498 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Up 0.3 %

NYSE GM opened at $47.51 on Friday. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a 50 day moving average price of $46.63 and a 200 day moving average price of $50.08. 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 firm has a market cap of $45.68 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results 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 business had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.62 earnings per share. As a group, sell-side analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The business 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. The ex-dividend date is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from General Motors’s previous quarterly dividend of $0.12. General Motors’s dividend payout ratio (DPR) is currently 8.65%.

General Motors declared that its board has initiated a stock 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 purchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

GM has been the topic of several recent research reports. TD Cowen initiated coverage on shares of General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 target price on the stock. Barclays upped 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. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Wedbush reduced their price objective on shares of General Motors from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Piper Sandler boosted their target price on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Four equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.28.

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.