Vestcor Inc Buys 7,265 Shares of General Motors Company (NYSE:GM)

Vestcor Inc raised its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 32.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 29,454 shares of the auto manufacturer’s stock after purchasing an additional 7,265 shares during the quarter. Vestcor Inc’s holdings in General Motors were worth $1,385,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Operose Advisors LLC increased its holdings in General Motors by 18.7% during the 4th quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer’s stock valued at $75,000 after purchasing an additional 223 shares during the period. Bessemer Group Inc. increased its position in General Motors by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer’s stock valued at $2,856,000 after purchasing an additional 226 shares during the period. Hohimer Wealth Management LLC raised its stake in General Motors by 0.3% in the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer’s stock worth $3,310,000 after buying an additional 230 shares in the last quarter. Aaron Wealth Advisors LLC lifted its holdings in General Motors by 3.6% in the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer’s stock worth $316,000 after buying an additional 235 shares during the period. Finally, Burford Brothers Inc. boosted its position in General Motors by 2.8% during the 1st quarter. Burford Brothers Inc. now owns 8,718 shares of the auto manufacturer’s stock valued at $410,000 after acquiring an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 1.5%

Shares of NYSE GM opened at $52.52 on Friday. General Motors Company has a 12-month low of $38.96 and a 12-month high of $61.24. The stock’s fifty day simple moving average is $50.55 and its two-hundred day simple moving average is $48.81. The stock has a market capitalization of $50.00 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data 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 company had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. During the same quarter last year, the company earned $3.06 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. General Motors’s dividend payout ratio (DPR) is 9.52%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GM shares. Piper Sandler reissued a “neutral” rating and set a $48.00 price objective (up previously from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. CLSA upgraded General Motors to a “moderate buy” rating in a research note on Monday, July 7th. Benchmark started coverage on shares of General Motors in a research note on Monday, July 21st. They set a “buy” rating and a $65.00 target price for the company. Industrial Alliance Securities set a $70.00 price objective on shares of General Motors in a research note on Friday, July 11th. Finally, BNP Paribas raised General Motors to a “strong-buy” rating in a report on Monday, May 5th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.35.

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.