MidWestOne Financial Group Inc. Cuts Position in General Motors (NYSE:GM)

MidWestOne Financial Group Inc. lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,644 shares of the auto manufacturer’s stock after selling 941 shares during the period. MidWestOne Financial Group Inc.’s holdings in General Motors were worth $2,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Golden State Wealth Management LLC bought a new stake in shares of General Motors in the 4th quarter worth approximately $25,000. Crews Bank & Trust bought a new stake in shares of General Motors in the 4th quarter worth approximately $26,000. Measured Risk Portfolios Inc. bought a new stake in shares of General Motors in the 4th quarter worth approximately $27,000. Compass Planning Associates Inc bought a new stake in shares of General Motors in the 4th quarter worth approximately $27,000. Finally, Whittier Trust Co. raised its holdings in shares of General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 425 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 0.3%

Shares of NYSE:GM opened at $50.20 on Wednesday. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24. The firm has a fifty day moving average of $46.95 and a 200 day moving average of $50.00. The firm has a market capitalization of $48.26 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. 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 announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The company had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. During the same period in the previous year, the business earned $2.62 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its board has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is 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 given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.20%. 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 is presently 8.65%.

Wall Street Analysts Forecast Growth

GM has been the topic of a number of research reports. The Goldman Sachs Group lowered their price target on shares of General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Cowen assumed coverage on shares of General Motors in a report on Thursday, March 6th. They issued a “buy” rating on the stock. UBS Group lowered their target price on shares of General Motors from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft cut shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. lowered their target price on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Four investment analysts have rated the stock with a sell rating, ten have issued 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, General Motors presently has an average rating of “Hold” and a consensus price target 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.