Jacobs Levy Equity Management Inc. Boosts Holdings in General Motors (NYSE:GM)

Jacobs Levy Equity Management Inc. raised its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,096,169 shares of the auto manufacturer’s stock after buying an additional 298,038 shares during the period. General Motors comprises about 1.1% of Jacobs Levy Equity Management Inc.’s portfolio, making the stock its 14th largest holding. Jacobs Levy Equity Management Inc.’s holdings in General Motors were worth $324,743,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in General Motors during the fourth quarter worth approximately $25,000. Crews Bank & Trust acquired a new position in shares of General Motors during the 4th quarter worth approximately $26,000. Compass Planning Associates Inc purchased a new position in shares of General Motors during the 4th quarter valued at approximately $27,000. Duncker Streett & Co. Inc. grew its stake in General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 498 shares during the period. Finally, Whittier Trust Co. increased its holdings in General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 425 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GM. UBS Group decreased their price objective on shares of General Motors from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Cowen initiated coverage on General Motors in a report on Thursday, March 6th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a report on Monday, April 14th. TD Cowen began coverage on shares of General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 price target on the stock. Finally, Piper Sandler upped their price objective on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.28.

General Motors Stock Performance

NYSE:GM opened at $47.51 on Friday. The company has a market cap of $45.68 billion, a price-to-earnings ratio of 7.73, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a fifty day simple moving average of $46.63 and a two-hundred day simple moving average of $50.08.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.15. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The company had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. During the same quarter in the prior year, the business earned $2.62 EPS. General Motors’s revenue was up 2.3% on a year-over-year basis. As a group, equities analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be given a dividend of $0.15 per share. This is a boost from General Motors’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, June 6th. General Motors’s payout ratio is 8.65%.

General Motors announced that its board has authorized a share buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.