Denali Advisors LLC Has $821,000 Stake in General Motors (NYSE:GM)

Denali Advisors LLC increased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 6.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 18,100 shares of the auto manufacturer’s stock after purchasing an additional 1,100 shares during the period. Denali Advisors LLC’s holdings in General Motors were worth $821,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GM. Norges Bank purchased a new stake in General Motors in the 4th quarter worth approximately $602,280,000. Hotchkis & Wiley Capital Management LLC lifted its position in General Motors by 21.9% in 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 buying an additional 3,247,050 shares in the last quarter. Putnam Investments LLC lifted its position 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 worth $726,942,000 after buying an additional 2,905,689 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position 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 worth $79,159,000 after buying an additional 2,035,925 shares in the last quarter. Finally, Caxton Associates LP raised its holdings in shares of General Motors by 1,514.2% during the 4th quarter. Caxton Associates LP now owns 1,755,334 shares of the auto manufacturer’s stock valued at $63,052,000 after purchasing an additional 1,646,594 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity

In other news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction dated 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 directly owns 176,907 shares in the company, valued at approximately $7,684,840.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other General Motors news, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Mark L. Reuss sold 14,858 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the transaction, the president now owns 162,049 shares in the company, valued at $7,455,874.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,152,621 shares of company stock worth $51,818,111. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the topic of a number of recent research reports. Morgan Stanley raised their price target on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Royal Bank of Canada raised their price target on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Sanford C. Bernstein initiated coverage on shares of General Motors in a report on Thursday, April 25th. They set an “outperform” rating and a $55.00 price target on the stock. Mizuho raised their price target on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Wedbush lifted their target price on shares of General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.91.

General Motors Stock Performance

NYSE GM opened at $46.68 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. The firm has a market capitalization of $53.26 billion, a price-to-earnings ratio of 5.71, a P/E/G ratio of 0.50 and a beta of 1.43. The company’s fifty day moving average is $45.70 and its two-hundred day moving average is $41.61. General Motors has a 52-week low of $26.30 and a 52-week high of $49.35.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) 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 analyst estimates of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $2.21 EPS. Equities research analysts forecast that General Motors will post 9.43 EPS for the current year.

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

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. General Motors’s dividend payout ratio (DPR) is currently 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.