Gulf International Bank UK Ltd Boosts Holdings in General Motors (NYSE:GM)

Gulf International Bank UK Ltd raised its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,696 shares of the auto manufacturer’s stock after buying an additional 666 shares during the quarter. Gulf International Bank UK Ltd’s holdings in General Motors were worth $5,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Highlander Capital Management LLC bought a new stake in General Motors in the 4th quarter worth approximately $27,000. Cape Investment Advisory Inc. increased its position in General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares during the last quarter. Sachetta LLC purchased a new stake in General Motors during the fourth quarter valued at $33,000. Bfsg LLC bought a new position in General Motors during the fourth quarter valued at $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of General Motors in the 4th quarter worth $36,000. Institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the sale, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at approximately $43,431,657.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other General Motors news, President Mark L. Reuss sold 35,142 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $46.34, for a total value of $1,628,480.28. Following the sale, the president now directly owns 126,907 shares of the company’s stock, valued at $5,880,870.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction that occurred 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. In the last ninety days, insiders sold 1,183,243 shares of company stock valued at $53,203,153. 0.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GM has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Sanford C. Bernstein began coverage on General Motors in a report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 target price for the company. Royal Bank of Canada boosted 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. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Finally, Morgan Stanley boosted their price objective on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.81.

General Motors Trading Down 0.1 %

GM opened at $47.72 on Friday. The firm has a market cap of $54.45 billion, a price-to-earnings ratio of 5.83, a PEG ratio of 0.55 and a beta of 1.46. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The stock has a fifty day moving average price of $45.20 and a 200-day moving average price of $40.95. General Motors has a 12 month low of $26.30 and a 12 month high of $49.35.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $2.21 earnings per share. As a group, equities research analysts anticipate that General Motors will post 9.44 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has approved a stock repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

General Motors Dividend Announcement

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