Allspring Global Investments Holdings LLC Purchases 129,128 Shares of General Motors (NYSE:GM)

Allspring Global Investments Holdings LLC lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,536,428 shares of the auto manufacturer’s stock after purchasing an additional 129,128 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.13% of General Motors worth $69,677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of General Motors during the fourth quarter worth $602,280,000. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of General Motors by 21.9% during the fourth 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 increased its stake in General Motors by 16.8% in the 4th 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 during the last quarter. Public Employees Retirement Association of Colorado increased its stake in General Motors by 1,213.0% in the 4th 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 last quarter. Finally, Caxton Associates LP increased its stake in General Motors by 1,514.2% in the 4th quarter. Caxton Associates LP now owns 1,755,334 shares of the auto manufacturer’s stock valued at $63,052,000 after buying an additional 1,646,594 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GM shares. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Sanford C. Bernstein started coverage on shares of General Motors in a research note on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price target on the stock. StockNews.com upgraded shares of General Motors from a “hold” rating to a “buy” rating in a research note on Saturday, June 1st. Mizuho lifted their price target on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company boosted their price objective on shares of General Motors from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.91.

Insider Buying and Selling at General Motors

In other news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the sale, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the sale, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 326,305 shares of the company’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock valued at $51,818,111 in the last quarter. Company insiders own 0.72% of the company’s stock.

General Motors Stock Performance

NYSE GM opened at $46.94 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $53.56 billion, a P/E ratio of 5.74, a P/E/G ratio of 0.49 and a beta of 1.43. General Motors has a 12-month low of $26.30 and a 12-month high of $49.35. The firm has a 50-day moving average price of $45.67 and a two-hundred day moving average price of $41.53.

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

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

General Motors declared that its board has initiated a share buyback program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

About General Motors

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.