First Hawaiian Bank Boosts Stake in General Motors (NYSE:GM)

First Hawaiian Bank grew its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 27.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,306 shares of the auto manufacturer’s stock after acquiring an additional 8,061 shares during the quarter. First Hawaiian Bank’s holdings in General Motors were worth $1,733,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in General Motors in the fourth quarter worth $602,280,000. Capital World Investors increased its stake in General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after purchasing an additional 6,201,777 shares during the period. Swedbank AB bought a new stake in General Motors in the first quarter valued at approximately $159,750,000. Hotchkis & Wiley Capital Management LLC raised its holdings in General Motors by 21.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after buying an additional 3,247,050 shares during the last quarter. Finally, Putnam Investments LLC grew its holdings in General Motors by 16.8% in the 4th 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 last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GM shares. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday, July 24th. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research note on Monday. Citigroup boosted their price objective on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Sanford C. Bernstein assumed coverage on shares of General Motors in a research report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 target price for the company. Finally, UBS Group boosted their price target on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.27.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the transaction, the chief executive officer now owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the sale, the chief executive officer now directly owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the transaction, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The disclosure for this sale can be found here. Insiders have sold 1,152,621 shares of company stock valued at $51,818,111 over the last ninety days. Insiders own 0.72% of the company’s stock.

General Motors Stock Down 2.9 %

NYSE:GM traded down $1.21 on Monday, reaching $39.96. 23,745,915 shares of the stock traded hands, compared to its average volume of 16,047,762. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $45.59 billion, a price-to-earnings ratio of 4.88, a PEG ratio of 0.44 and a beta of 1.43. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. The company’s fifty day simple moving average is $46.40 and its 200 day simple moving average is $43.34.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.39. The company had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.91 earnings per share. Equities analysts predict that General Motors will post 9.94 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, September 6th. General Motors’s payout ratio is currently 5.87%.

General Motors announced that its Board of Directors has approved a share buyback plan on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management 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.