Lantz Financial LLC Invests $255,000 in General Motors (NYSE:GM)

Lantz Financial LLC acquired a new position in General Motors (NYSE:GMFree Report) (TSE:GMM.U) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,618 shares of the auto manufacturer’s stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of General Motors by 1.4% during the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after acquiring an additional 1,580,681 shares during the last quarter. Putnam Investments LLC grew its position in General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after purchasing an additional 2,905,689 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in General Motors by 21.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after purchasing an additional 3,247,050 shares in the last quarter. Norges Bank purchased a new position in shares of General Motors in the fourth quarter worth $602,280,000. Finally, Morgan Stanley raised its holdings in shares of General Motors by 1.3% in the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after buying an additional 201,080 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank of Canada upped their target price on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. StockNews.com upgraded General Motors from a “hold” rating to a “buy” rating in a research note on Saturday, June 1st. Sanford C. Bernstein initiated coverage on General Motors in a report on Thursday, April 25th. They set an “outperform” rating and a $55.00 target price for the company. Citigroup increased their price target on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Wedbush lifted their price objective on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.81.

Read Our Latest Report on GM

General Motors Stock Down 0.1 %

General Motors stock opened at $47.71 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. The stock has a market capitalization of $54.44 billion, a PE ratio of 5.83, a price-to-earnings-growth ratio of 0.55 and a beta of 1.46. The business has a 50 day simple moving average of $45.20 and a 200-day simple moving average of $40.89. General Motors has a 12 month low of $26.30 and a 12 month high of $49.35.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.02 by $0.60. The company 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 firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 EPS. On average, analysts anticipate that General Motors will post 9.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. General Motors’s payout ratio is currently 5.87%.

General Motors announced that its board has authorized a stock repurchase plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at General Motors

In other General Motors news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now owns 176,907 shares in the company, valued at approximately $7,684,840.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mary T. Barra sold 326,305 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the completion of the sale, the chief executive officer now owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The disclosure for this sale can be found here. Insiders sold 1,183,243 shares of company stock valued at $53,203,153 over the last quarter. 0.72% of the stock is currently owned by insiders.

General Motors Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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