Founders Financial Securities LLC Has $889,000 Position in General Motors (NYSE:GM)

Founders Financial Securities LLC raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 21.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,614 shares of the auto manufacturer’s stock after purchasing an additional 3,510 shares during the quarter. Founders Financial Securities LLC’s holdings in General Motors were worth $889,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in General Motors in the fourth quarter valued at $602,280,000. Hotchkis & Wiley Capital Management LLC raised its position in shares of General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after acquiring an additional 3,247,050 shares during the last quarter. Putnam Investments LLC lifted its stake in shares of General Motors by 16.8% in the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after acquiring an additional 2,905,689 shares during the period. AQR Capital Management LLC increased its position in General Motors by 32.6% during the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock valued at $274,531,000 after purchasing an additional 2,049,412 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its holdings in General Motors by 1,213.0% during 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 purchasing an additional 2,035,925 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GM shares. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Wedbush increased their price target on General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Citigroup boosted their price objective on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a research note on Saturday, June 1st. Finally, Wells Fargo & Company lifted their target price on General Motors from $30.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, General Motors currently has an average rating of “Moderate Buy” and a consensus price target of $54.91.

General Motors Stock Up 1.9 %

NYSE GM traded up $0.88 during trading hours on Friday, hitting $46.46. The company’s stock had a trading volume of 15,020,440 shares, compared to its average volume of 16,311,914. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The company’s 50-day simple moving average is $45.60 and its two-hundred day simple moving average is $41.40. The company has a market capitalization of $53.01 billion, a PE ratio of 5.68, a price-to-earnings-growth ratio of 0.48 and a beta of 1.46. 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 announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. General Motors’s quarterly revenue was up 7.6% on a year-over-year basis. Research analysts anticipate that General Motors will post 9.43 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were paid a $0.12 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s dividend payout ratio (DPR) is 5.87%.

General Motors declared that its Board of Directors has initiated a stock repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the completion of the sale, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the president now 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 at the SEC website. Also, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the transaction, the chief executive officer now owns 898,648 shares of the company’s stock, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. Insiders have sold a total of 1,152,621 shares of company stock valued at $51,818,111 in the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

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.