Lighthouse Investment Partners LLC Increases Stake in General Motors (NYSE:GM)

Lighthouse Investment Partners LLC raised its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 528.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,000 shares of the auto manufacturer’s stock after buying an additional 370,000 shares during the quarter. General Motors comprises approximately 0.8% of Lighthouse Investment Partners LLC’s holdings, making the stock its 21st largest position. Lighthouse Investment Partners LLC’s holdings in General Motors were worth $23,439,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GM. Golden State Wealth Management LLC purchased a new stake in General Motors during the 4th quarter valued at approximately $25,000. Crews Bank & Trust purchased a new stake in General Motors during the 4th quarter valued at approximately $26,000. Compass Planning Associates Inc purchased a new position in shares of General Motors in the fourth quarter valued at $27,000. Duncker Streett & Co. Inc. grew its holdings in shares of General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 498 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 425 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Up 0.3%

NYSE:GM opened at $47.51 on Monday. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. 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 stock has a fifty day simple moving average of $46.63 and a 200-day simple moving average of $50.06. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last released its 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 business had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. During the same period last year, the company earned $2.62 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be issued a $0.15 dividend. This is an increase 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 presently 8.65%.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on GM shares. Wedbush cut their target price on shares of General Motors from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Citigroup started coverage on shares of General Motors in a report on Wednesday, April 23rd. They issued a “buy” rating and a $62.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Piper Sandler raised their target price on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. Finally, Mizuho dropped their price objective on shares of General Motors from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $54.28.

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.