UMB Bank n.a. Raises Holdings in General Motors (NYSE:GM)

UMB Bank n.a. lifted its stake in General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 5.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,293 shares of the auto manufacturer’s stock after buying an additional 434 shares during the quarter. UMB Bank n.a.’s holdings in General Motors were worth $390,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GM. Franklin Resources Inc. boosted its position in General Motors by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares in the last quarter. Geode Capital Management LLC boosted its position in General Motors by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock worth $1,264,567,000 after purchasing an additional 176,436 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in General Motors by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer’s stock worth $749,382,000 after purchasing an additional 228,408 shares in the last quarter. Norges Bank purchased a new position in General Motors during the fourth quarter worth approximately $592,321,000. Finally, Northern Trust Corp boosted its position in General Motors by 8.1% during the fourth quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer’s stock worth $582,251,000 after purchasing an additional 822,454 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Mizuho increased their price target on General Motors from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. UBS Group lowered their price target on General Motors from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Cowen assumed coverage on General Motors in a report on Thursday, March 6th. They set a “buy” rating for the company. The Goldman Sachs Group reduced their target price on General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, BNP Paribas raised 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $54.56.

View Our Latest Research Report on GM

General Motors Price Performance

NYSE:GM opened at $48.91 on Wednesday. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a market cap of $47.02 billion, a PE ratio of 7.95, a P/E/G ratio of 0.67 and a beta of 1.34. The stock has a 50 day moving average price of $46.86 and a 200 day moving average price of $49.22.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating the consensus estimate of $2.63 by $0.15. The firm had revenue of $44.02 billion during the quarter, compared to analysts’ expectations of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.62 earnings per share. Equities research analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.23%. This is a positive change from General Motors’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. General Motors’s dividend payout ratio is presently 8.65%.

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

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.

See Also

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

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