Palouse Capital Management Inc. Has $3.97 Million Holdings in General Motors (NYSE:GM)

Palouse Capital Management Inc. raised its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 106,950 shares of the auto manufacturer’s stock after purchasing an additional 6,618 shares during the quarter. General Motors accounts for about 1.5% of Palouse Capital Management Inc.’s holdings, making the stock its 29th biggest holding. Palouse Capital Management Inc.’s holdings in General Motors were worth $3,968,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GM. Oregon Public Employees Retirement Fund boosted its position in General Motors by 2,701.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,064,309 shares of the auto manufacturer’s stock valued at $1,018,000 after buying an additional 32,848,376 shares during the period. Greenhaven Associates Inc. purchased a new stake in shares of General Motors in the 1st quarter worth about $754,274,000. Norges Bank purchased a new stake in shares of General Motors in the 4th quarter worth about $340,570,000. BlackRock Inc. lifted its position in shares of General Motors by 6.7% in the 1st quarter. BlackRock Inc. now owns 83,427,385 shares of the auto manufacturer’s stock worth $3,095,158,000 after purchasing an additional 5,215,771 shares during the period. Finally, Diamond Hill Capital Management Inc. purchased a new stake in shares of General Motors in the 4th quarter worth about $144,112,000. 76.98% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on GM shares. Nomura set a $42.00 target price on shares of General Motors and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Seaport Global Securities started coverage on shares of General Motors in a research report on Wednesday, February 13th. They issued a “buy” rating for the company. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $36.00 target price on shares of General Motors in a research report on Tuesday, March 26th. ValuEngine cut shares of General Motors from a “hold” rating to a “sell” rating in a research report on Saturday, June 1st. Finally, Zacks Investment Research cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $47.43.

Shares of General Motors stock traded down $0.44 during trading on Wednesday, hitting $35.77. The company’s stock had a trading volume of 2,741,839 shares, compared to its average volume of 9,437,001. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.94 and a quick ratio of 0.81. The firm has a market cap of $50.96 billion, a price-to-earnings ratio of 5.47, a PEG ratio of 0.60 and a beta of 1.34. General Motors has a 52 week low of $30.56 and a 52 week high of $45.00.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 30th. The auto manufacturer reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.32. The company had revenue of $34.88 billion during the quarter, compared to analyst estimates of $35.56 billion. General Motors had a net margin of 6.26% and a return on equity of 22.67%. General Motors’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the business earned $1.43 EPS. On average, equities analysts anticipate that General Motors will post 6.67 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a $0.38 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.52 annualized dividend and a dividend yield of 4.25%. General Motors’s payout ratio is 23.24%.

In related news, CFO Dhivya Suryadevara sold 34,756 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $37.40, for a total value of $1,299,874.40. Following the completion of the transaction, the chief financial officer now directly owns 10,741 shares in the company, valued at approximately $401,713.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wesley G. Bush purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average price of $38.58 per share, with a total value of $385,800.00. The disclosure for this purchase can be found here. 0.51% of the stock is owned by company insiders.

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General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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