Auxier Asset Management Decreases Stock Holdings in General Motors (NYSE:GM)

Auxier Asset Management cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,502 shares of the auto manufacturer’s stock after selling 1,050 shares during the period. Auxier Asset Management’s holdings in General Motors were worth $1,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in 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 buying an additional 1,510 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of General Motors during the 4th quarter valued at about $25,404,000. SYM FINANCIAL Corp acquired a new position in shares of General Motors during the 4th quarter valued at about $474,000. Asset Management One Co. Ltd. grew its holdings in shares of General Motors by 9.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after purchasing an additional 39,474 shares during the period. Finally, Avantra Family Wealth Inc. acquired a new stake in General Motors during the fourth quarter worth about $1,044,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

NYSE:GM opened at $48.72 on Friday. The company has a market cap of $46.84 billion, a price-to-earnings ratio of 7.92, a price-to-earnings-growth 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 has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a fifty day simple moving average of $46.98 and a two-hundred day simple moving average of $49.94.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The firm had revenue of $44.02 billion during the quarter, compared to analysts’ expectations of $42.64 billion. During the same period in the previous year, the firm posted $2.62 EPS. General Motors’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has approved a stock repurchase program on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

General Motors Increases Dividend

The company 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 $0.15 dividend. This is a boost from General Motors’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. This represents a $0.60 annualized dividend and a yield of 1.23%. General Motors’s dividend payout ratio (DPR) is 8.65%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GM shares. Royal Bank of Canada boosted 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. Wall Street Zen cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Wedbush lowered their price objective on General Motors from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group reduced their target price on General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Barclays increased their price target on General Motors from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.56.

General Motors 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.