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

OLD National Bancorp IN increased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 18.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,035 shares of the auto manufacturer’s stock after purchasing an additional 1,248 shares during the period. OLD National Bancorp IN’s holdings in General Motors were worth $378,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of General Motors during the fourth quarter worth $25,000. Measured Risk Portfolios Inc. acquired a new stake in shares of General Motors during the fourth quarter worth $27,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors during the fourth quarter worth $27,000. Whittier Trust Co. grew its stake in shares of General Motors by 551.9% during the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 425 shares during the period. Finally, Duncker Streett & Co. Inc. grew its stake in shares of General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Performance

GM opened at $48.91 on Wednesday. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24. The firm has a market capitalization of $47.02 billion, a PE ratio of 7.95, a PEG ratio of 0.67 and a beta of 1.34. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The business’s 50-day simple moving average is $46.86 and its 200 day simple moving average is $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 (EPS) 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 for the quarter, compared to analyst estimates of $42.64 billion. During the same quarter in the prior year, the company posted $2.62 earnings per share. General Motors’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be paid a $0.15 dividend. This is a positive change from General Motors’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 annualized dividend and a yield of 1.23%. General Motors’s dividend payout ratio is currently 8.65%.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on GM. Mizuho boosted their target price on General Motors from $53.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. TD Cowen began coverage on General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 target price for the company. Cowen began coverage on General Motors in a research note on Thursday, March 6th. They issued a “buy” rating for the company. Citigroup began coverage on General Motors in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $62.00 target price for the company. Finally, Sanford C. Bernstein set a $36.00 target price on General Motors in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.