General Motors (NYSE:GM) Stake Boosted by Hourglass Capital LLC

Hourglass Capital LLC raised its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.5% in the 4th quarter, Holdings Channel reports. The firm owned 79,147 shares of the auto manufacturer’s stock after purchasing an additional 390 shares during the quarter. Hourglass Capital LLC’s holdings in General Motors were worth $4,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of General Motors during the 4th quarter valued at about $25,000. Crews Bank & Trust bought a new position in General Motors in the fourth quarter worth about $26,000. Catalyst Capital Advisors LLC acquired a new position in General Motors in the third quarter valued at approximately $27,000. Truvestments Capital LLC bought a new position in shares of General Motors during the third quarter valued at approximately $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of General Motors during the 4th quarter worth approximately $28,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GM has been the subject of a number of analyst reports. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Royal Bank of Canada boosted their price target on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. UBS Group increased their price objective on shares of General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Wedbush boosted their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Barclays raised their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus target price of $59.71.

General Motors Price Performance

Shares of General Motors stock opened at $48.33 on Friday. General Motors has a 52 week low of $38.13 and a 52 week high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The stock has a market cap of $48.09 billion, a PE ratio of 7.86, a price-to-earnings-growth ratio of 0.68 and a beta of 1.40. The company’s 50-day moving average price is $51.16 and its two-hundred day moving average price is $49.98.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, sell-side analysts anticipate that General Motors will post 11.28 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is presently 7.80%.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

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.