110,000 Shares in General Motors Company (NYSE:GM) Acquired by IVY Lane Capital Management LLC

IVY Lane Capital Management LLC acquired a new position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) during the first quarter, HoldingsChannel.com reports. The firm acquired 110,000 shares of the auto manufacturer’s stock, valued at approximately $5,173,000. General Motors makes up approximately 3.1% of IVY Lane Capital Management LLC’s portfolio, making the stock its 11th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in GM. Measured Risk Portfolios Inc. purchased a new position in General Motors in the fourth quarter worth approximately $27,000. Transce3nd LLC purchased a new position in General Motors in the fourth quarter worth approximately $34,000. North Capital Inc. purchased a new position in General Motors in the first quarter worth approximately $40,000. Ossiam purchased a new position in General Motors in the fourth quarter worth approximately $44,000. Finally, Princeton Global Asset Management LLC grew its position in General Motors by 141.0% in the first quarter. Princeton Global Asset Management LLC now owns 1,070 shares of the auto manufacturer’s stock worth $50,000 after acquiring an additional 626 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research report on Wednesday. Industrial Alliance Securities set a $70.00 target price on General Motors in a research report on Friday, July 11th. UBS Group boosted their target price on General Motors from $50.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Benchmark assumed coverage on General Motors in a research report on Monday, July 21st. They issued a “buy” rating and a $65.00 target price on the stock. Finally, Barclays boosted their target price on General Motors from $45.00 to $55.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.35.

General Motors Stock Up 2.0%

General Motors stock opened at $53.38 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.04. General Motors Company has a 1-year low of $38.96 and a 1-year high of $61.24. The company has a market cap of $50.82 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 1.13 and a beta of 1.32. The stock’s 50 day moving average price is $50.23 and its 200 day moving average price is $48.72.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The firm had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. During the same period in the previous year, the business earned $3.06 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, sell-side analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.12%. The ex-dividend date is Friday, September 5th. General Motors’s payout ratio is currently 9.52%.

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.