OLD National Bancorp IN Has $378,000 Holdings in General Motors (NYSE:GM)

OLD National Bancorp IN lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 18.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,035 shares of the auto manufacturer’s stock after purchasing an additional 1,248 shares during the quarter. OLD National Bancorp IN’s holdings in General Motors were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of GM. Golden State Wealth Management LLC acquired a new stake in shares of General Motors during the 4th quarter worth approximately $25,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors during the 4th quarter worth approximately $27,000. Duncker Streett & Co. Inc. grew its holdings in shares of General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 425 shares in the last quarter. Finally, Measured Risk Portfolios Inc. acquired a new stake in shares of General Motors during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Up 2.0%

GM stock opened at $48.91 on Wednesday. The company has a market cap of $47.02 billion, a P/E ratio of 7.95, a PEG ratio of 0.67 and a beta of 1.34. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The business has a fifty day moving average of $46.86 and a 200-day moving average of $49.22.

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 analysts’ consensus estimates of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.62 earnings per share. As a group, equities research analysts expect that General Motors will post 11.44 EPS for the current year.

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

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from General Motors’s previous quarterly dividend of $0.12. General Motors’s payout ratio is presently 8.65%.

Analyst Ratings Changes

Several equities analysts recently commented on GM shares. Citigroup started coverage on General Motors in a research report on Wednesday, April 23rd. They set a “buy” rating and a $62.00 target price for the company. Sanford C. Bernstein set a $36.00 target price on General Motors in a research report on Monday, May 5th. The Goldman Sachs Group cut their target price on General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Cowen started coverage on General Motors in a research report on Thursday, March 6th. They set a “buy” rating for the company. Finally, BNP Paribas upgraded General Motors to a “strong-buy” rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and an average price target of $54.56.

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.