Cornerstone Select Advisors LLC Takes Position in General Motors (NYSE:GM)

Cornerstone Select Advisors LLC purchased a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,037 shares of the auto manufacturer’s stock, valued at approximately $322,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GM. World Investment Advisors LLC purchased a new stake in shares of General Motors in the 3rd quarter valued at approximately $237,000. Principal Financial Group Inc. boosted its position in shares of General Motors by 1.1% in the third quarter. Principal Financial Group Inc. now owns 1,268,096 shares of the auto manufacturer’s stock worth $56,861,000 after buying an additional 13,206 shares during the period. Range Financial Group LLC purchased a new position in shares of General Motors during the fourth quarter valued at $1,669,000. Hilltop National Bank lifted its stake in General Motors by 6.9% in the 4th quarter. Hilltop National Bank now owns 3,876 shares of the auto manufacturer’s stock worth $206,000 after acquiring an additional 249 shares in the last quarter. Finally, Czech National Bank boosted its position in General Motors by 4.1% during the 4th quarter. Czech National Bank now owns 238,415 shares of the auto manufacturer’s stock worth $12,700,000 after acquiring an additional 9,461 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

GM opened at $45.45 on Wednesday. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $43.92 billion, a P/E ratio of 7.39, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. The stock’s 50 day moving average price is $46.66 and its two-hundred day moving average price is $50.19.

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, beating analysts’ consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The firm had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. During the same period in the prior year, the firm earned $2.62 EPS. The business’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.32%. This is a positive change from General Motors’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. General Motors’s payout ratio is currently 8.65%.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GM shares. UBS Group reduced their price target on shares of General Motors from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Sanford C. Bernstein cut shares of General Motors from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $50.00 to $35.00 in a report on Monday, April 7th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Mizuho reduced their price objective on General Motors from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, Royal Bank of Canada raised their price target on General Motors from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus target price of $54.22.

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.