Range Financial Group LLC Boosts Stock Position in General Motors (NYSE:GM)

Range Financial Group LLC boosted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 68.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,509 shares of the auto manufacturer’s stock after purchasing an additional 4,279 shares during the quarter. Range Financial Group LLC’s holdings in General Motors were worth $477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of General Motors in the 4th quarter valued at approximately $602,280,000. Hotchkis & Wiley Capital Management LLC boosted its position 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 worth $650,062,000 after acquiring an additional 3,247,050 shares during the period. Putnam Investments LLC boosted 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 acquiring an additional 2,905,689 shares during the period. AQR Capital Management LLC lifted its holdings in shares of General Motors by 32.6% in the third quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock valued at $274,531,000 after buying an additional 2,049,412 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of General Motors by 1,213.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock valued at $79,159,000 after buying an additional 2,035,925 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Motors

In other General Motors news, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value of $15,770,320.65. Following the completion of the transaction, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Mary T. Barra sold 326,305 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Mark L. Reuss sold 35,142 shares of the company’s stock in a transaction dated 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 transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $5,880,870.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,183,243 shares of company stock valued at $53,203,153. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the subject of several research analyst reports. Citigroup upped their price objective on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. UBS Group upped their target price on General Motors from $58.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Sanford C. Bernstein began 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. Wells Fargo & Company upped their target price on General Motors from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Wednesday, April 24th. Finally, StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Saturday, June 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.81.

General Motors Stock Up 0.8 %

Shares of General Motors stock opened at $48.09 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. General Motors has a 12 month low of $26.30 and a 12 month high of $49.35. The business has a fifty day simple moving average of $45.31 and a 200 day simple moving average of $41.11. The stock has a market cap of $54.87 billion, a PE ratio of 5.88, a price-to-earnings-growth ratio of 0.55 and a beta of 1.46.

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

General Motors announced that its board has initiated a stock repurchase program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors 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.