Bingham Private Wealth LLC Increases Position in General Motors Company (NYSE:GM)

Bingham Private Wealth LLC increased its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 31.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,469 shares of the auto manufacturer’s stock after acquiring an additional 1,304 shares during the period. Bingham Private Wealth LLC’s holdings in General Motors were worth $257,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Lindbrook Capital LLC raised its stake in General Motors by 13.9% in the first quarter. Lindbrook Capital LLC now owns 8,413 shares of the auto manufacturer’s stock worth $396,000 after buying an additional 1,026 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in shares of General Motors by 180.9% during the first quarter. J.W. Cole Advisors Inc. now owns 29,234 shares of the auto manufacturer’s stock valued at $1,375,000 after acquiring an additional 18,826 shares in the last quarter. IFP Advisors Inc increased its position in shares of General Motors by 15.6% during the first quarter. IFP Advisors Inc now owns 18,380 shares of the auto manufacturer’s stock valued at $864,000 after acquiring an additional 2,479 shares in the last quarter. OneAscent Financial Services LLC increased its position in shares of General Motors by 3.7% during the first quarter. OneAscent Financial Services LLC now owns 12,349 shares of the auto manufacturer’s stock valued at $581,000 after acquiring an additional 440 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its position in shares of General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock valued at $287,428,000 after acquiring an additional 1,712,033 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GM shares. Royal Bank Of Canada lifted their price target on shares of General Motors from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Mizuho raised their price objective on shares of General Motors from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a report on Monday, April 14th. CLSA upgraded shares of General Motors to a “moderate buy” rating in a report on Monday, July 7th. Finally, Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a report on Friday, July 11th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, General Motors has a consensus rating of “Hold” and an average price target of $55.17.

General Motors Stock Up 0.0%

GM stock opened at $53.23 on Friday. The firm has a market cap of $51.18 billion, a PE ratio of 7.67, a P/E/G ratio of 1.43 and a beta of 1.32. 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 firm’s fifty day moving average is $50.02 and its 200 day moving average is $48.71. 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 posted its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.15. The business had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $2.62 earnings per share. On average, research analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Increases Dividend

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

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.