Artemis Investment Management LLP Has $9.58 Million Position in General Motors (NYSE:GM)

Artemis Investment Management LLP raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 192.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,377 shares of the auto manufacturer’s stock after buying an additional 139,153 shares during the quarter. Artemis Investment Management LLP’s holdings in General Motors were worth $9,581,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. UBS Group raised their target price on shares of General Motors from $58.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Barclays upped their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Morgan Stanley lifted their price objective on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Finally, StockNews.com upgraded General Motors from a “hold” rating to a “buy” rating in a research note on Saturday, June 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.91.

General Motors Trading Up 1.9 %

GM opened at $46.45 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. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35. The company’s 50 day moving average price is $45.60 and its two-hundred day moving average price is $41.35. The firm has a market capitalization of $52.99 billion, a price-to-earnings ratio of 5.68, a PEG ratio of 0.48 and a beta of 1.46.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.21 earnings per share. As a group, research analysts predict that General Motors will post 9.43 earnings per share for the current year.

General Motors Announces Dividend

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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

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

Insider Activity at General Motors

In other General Motors news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now owns 176,907 shares in the company, valued at approximately $7,684,840.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other General Motors news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the sale, the president now owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The disclosure for this sale can be found here. Insiders have sold 1,152,621 shares of company stock worth $51,818,111 over the last ninety days. Insiders own 0.72% of the company’s stock.

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.