Ritholtz Wealth Management Purchases 11,862 Shares of General Motors Company (NYSE:GM)

Ritholtz Wealth Management increased its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 76.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 27,426 shares of the auto manufacturer’s stock after purchasing an additional 11,862 shares during the quarter. Ritholtz Wealth Management’s holdings in General Motors were worth $1,290,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of General Motors during the 4th quarter valued at approximately $25,404,000. Handelsbanken Fonder AB increased its position in shares of General Motors by 10.9% during the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock valued at $10,763,000 after purchasing an additional 19,924 shares during the last quarter. Hussman Strategic Advisors Inc. increased its position in shares of General Motors by 150.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 52,500 shares of the auto manufacturer’s stock valued at $2,797,000 after purchasing an additional 31,500 shares during the last quarter. Olstein Capital Management L.P. increased its position in shares of General Motors by 18.0% during the 1st quarter. Olstein Capital Management L.P. now owns 144,000 shares of the auto manufacturer’s stock valued at $6,772,000 after purchasing an additional 22,000 shares during the last quarter. Finally, Longbow Finance SA bought a new position in shares of General Motors during the 4th quarter valued at approximately $5,865,000. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 2.0%

Shares of NYSE GM opened at $48.31 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04. The stock has a market capitalization of $46.44 billion, a P/E ratio of 6.96, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. General Motors Company has a 1-year low of $38.96 and a 1-year high of $61.24. The business has a fifty day moving average price of $47.40 and a 200 day moving average price of $48.97.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.15. The firm had revenue of $44.02 billion during the quarter, compared to analysts’ expectations of $42.64 billion. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.62 EPS. Equities research analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The business also recently disclosed 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 is a boost from General Motors’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, June 6th. General Motors’s dividend payout ratio is 8.65%.

General Motors announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

GM has been the topic of several research analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $48.00 price objective (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. BNP Paribas raised General Motors to a “strong-buy” rating in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft downgraded General Motors from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research report on Monday, April 14th. Barclays upped their price objective on General Motors from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Finally, UBS Group cut their price objective on General Motors from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Motors currently has an average rating of “Hold” and an average target price of $53.35.

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.