Siemens Fonds Invest GmbH Sells 40,497 Shares of General Motors (NYSE:GM)

Siemens Fonds Invest GmbH reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 78.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,191 shares of the auto manufacturer’s stock after selling 40,497 shares during the period. Siemens Fonds Invest GmbH’s holdings in General Motors were worth $596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sherbrooke Park Advisers LLC lifted its position in shares of General Motors by 28.8% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 6,758 shares of the auto manufacturer’s stock worth $360,000 after buying an additional 1,510 shares during the last quarter. Rafferty Asset Management LLC raised its stake in General Motors by 10.5% during the fourth quarter. Rafferty Asset Management LLC now owns 102,228 shares of the auto manufacturer’s stock worth $5,446,000 after acquiring an additional 9,697 shares in the last quarter. Raiffeisen Bank International AG bought a new position in shares of General Motors in the fourth quarter worth about $732,000. Point72 Italy S.r.l. boosted its stake in shares of General Motors by 180.5% in the 4th quarter. Point72 Italy S.r.l. now owns 220,775 shares of the auto manufacturer’s stock valued at $11,761,000 after purchasing an additional 142,068 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of General Motors by 9.1% during the 4th quarter. ProShare Advisors LLC now owns 198,543 shares of the auto manufacturer’s stock valued at $10,576,000 after purchasing an additional 16,555 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on GM. Cowen initiated coverage on shares of General Motors in a research report on Thursday, March 6th. They issued a “buy” rating on the stock. The Goldman Sachs Group dropped their price target on General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. reduced their price objective on General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Barclays increased their target price on General Motors from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Finally, BNP Paribas upgraded General Motors to a “strong-buy” rating in a report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $54.56.

General Motors Trading Up 0.5%

GM opened at $50.36 on Friday. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a fifty day moving average of $46.85 and a 200-day moving average of $50.01. The stock has a market cap of $48.42 billion, a PE ratio of 8.19, 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 (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $42.64 billion. During the same period last year, the business posted $2.62 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, June 6th. This represents a $0.60 annualized dividend and a yield of 1.19%. This is a boost from General Motors’s previous quarterly dividend of $0.12. General Motors’s dividend payout ratio (DPR) is currently 8.65%.

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

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.