Retirement Planning Co of New England Inc. Takes $221,000 Position in General Motors Company (NYSE:GM)

Retirement Planning Co of New England Inc. bought a new stake in General Motors Company (NYSE:GM) (TSE:GMM.U) during the first quarter, Holdings Channel reports. The institutional investor bought 4,700 shares of the auto manufacturer’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GM. Brighton Jones LLC boosted its stake in shares of General Motors by 456.1% during the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer’s stock worth $2,062,000 after buying an additional 31,755 shares during the period. Proficio Capital Partners LLC lifted its position in General Motors by 16.1% during the 4th quarter. Proficio Capital Partners LLC now owns 10,441 shares of the auto manufacturer’s stock worth $556,000 after acquiring an additional 1,448 shares during the period. Harbour Investments Inc. grew its stake in shares of General Motors by 4.5% in the 4th quarter. Harbour Investments Inc. now owns 12,848 shares of the auto manufacturer’s stock valued at $684,000 after purchasing an additional 559 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of General Motors by 4.3% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 72,743 shares of the auto manufacturer’s stock worth $3,880,000 after purchasing an additional 3,016 shares during the last quarter. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of General Motors during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of General Motors in a report on Friday, July 11th. JPMorgan Chase & Co. reduced their price objective on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Mizuho boosted their target price on General Motors from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Wedbush reduced their price target on General Motors from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Citigroup began coverage on General Motors in a report on Wednesday, April 23rd. They set a “buy” rating and a $62.00 price objective on the stock. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, General Motors presently has an average rating of “Hold” and a consensus price target of $55.17.

General Motors Stock Up 0.1%

GM stock opened at $53.22 on Friday. The company has a 50 day moving average price of $49.90 and a two-hundred day moving average price of $48.74. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.04 and a current ratio of 1.21. The stock has a market capitalization of $51.16 billion, a P/E ratio of 7.67, a PEG ratio of 1.43 and a beta of 1.32. General Motors Company has a one year low of $38.96 and a one year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.15. The business had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.62 earnings per share. As a group, sell-side analysts expect that General Motors Company will post 11.44 EPS for the current year.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Friday, June 6th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.13%. This is a boost from General Motors’s previous quarterly dividend of $0.12. General Motors’s dividend payout ratio (DPR) is presently 8.65%.

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.