General Motors (NYSE:GM) Shares Acquired by NorthRock Partners LLC

NorthRock Partners LLC increased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 80.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,233 shares of the auto manufacturer’s stock after purchasing an additional 6,367 shares during the period. NorthRock Partners LLC’s holdings in General Motors were worth $758,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of General Motors in the 4th quarter valued at about $25,000. Crews Bank & Trust purchased a new stake in General Motors during the 4th quarter worth approximately $26,000. Measured Risk Portfolios Inc. acquired a new position in General Motors in the 4th quarter valued at $27,000. Compass Planning Associates Inc purchased a new position in shares of General Motors in the fourth quarter worth about $27,000. Finally, Whittier Trust Co. grew its position in shares of General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 425 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of NYSE:GM opened at $50.05 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 $46.81 and a 200 day moving average price of $50.03. The company has a market cap of $48.12 billion, a P/E ratio of 8.14, a PEG ratio of 0.67 and a beta of 1.36. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.15. The firm had revenue of $44.02 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.62 earnings per share. Research analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its board has approved a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from General Motors’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. General Motors’s dividend payout ratio is 8.65%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a research note on Monday, April 14th. Cowen initiated coverage on shares of General Motors in a research note on Thursday, March 6th. They set a “buy” rating on the stock. Citigroup initiated coverage on General Motors in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $62.00 price objective for the company. Mizuho cut their price target on General Motors from $55.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Finally, Royal Bank of Canada upped their target price on shares of General Motors from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.