Summit Global Investments Increases Stock Holdings in General Motors (NYSE:GM)

Summit Global Investments lifted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,020 shares of the auto manufacturer’s stock after buying an additional 1,109 shares during the quarter. Summit Global Investments’ holdings in General Motors were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Los Angeles Capital Management LLC increased its stake in General Motors by 1,232.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 96,077 shares of the auto manufacturer’s stock valued at $3,451,000 after buying an additional 88,868 shares during the period. Natixis Advisors L.P. raised its holdings in General Motors by 14.8% during the fourth quarter. Natixis Advisors L.P. now owns 1,273,773 shares of the auto manufacturer’s stock worth $45,753,000 after purchasing an additional 164,318 shares in the last quarter. Fisher Asset Management LLC lifted its position in General Motors by 0.5% in the fourth quarter. Fisher Asset Management LLC now owns 6,497,100 shares of the auto manufacturer’s stock valued at $233,376,000 after purchasing an additional 30,641 shares during the period. Rogco LP boosted its holdings in General Motors by 86.9% in the 4th quarter. Rogco LP now owns 3,412 shares of the auto manufacturer’s stock valued at $123,000 after purchasing an additional 1,586 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in General Motors by 26.4% during the 4th quarter. First Trust Direct Indexing L.P. now owns 19,654 shares of the auto manufacturer’s stock worth $706,000 after purchasing an additional 4,105 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GM has been the topic of a number of analyst reports. Wedbush lifted their price target on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group boosted their price objective on shares of General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Sanford C. Bernstein began coverage on shares of General Motors in a report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 target price for the company. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.65.

Insider Activity at General Motors

In other news, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the transaction, the executive vice president now owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,248 shares of company stock worth $3,614,078. 0.72% of the stock is currently owned by insiders.

General Motors Price Performance

NYSE:GM opened at $44.86 on Monday. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17. The firm has a market cap of $51.18 billion, a price-to-earnings ratio of 5.48, a price-to-earnings-growth ratio of 0.53 and a beta of 1.49. The company’s 50-day moving average is $42.84 and its two-hundred day moving average is $36.89. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.21 earnings per share. Research analysts expect that General Motors will post 9.44 EPS for the current year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

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.