General Motors (NYSE:GM) Shares Sold by Jacobi Capital Management LLC

Jacobi Capital Management LLC lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,395 shares of the auto manufacturer’s stock after selling 253 shares during the quarter. Jacobi Capital Management LLC’s holdings in General Motors were worth $1,779,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GM. Geode Capital Management LLC lifted its holdings in shares of General Motors by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock valued at $1,055,395,000 after acquiring an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of General Motors by 6.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after acquiring an additional 989,750 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of General Motors by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after acquiring an additional 421,989 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of General Motors by 6.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after acquiring an additional 358,507 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of General Motors by 35.8% during the 4th quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer’s stock valued at $234,364,000 after acquiring an additional 1,159,958 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and lifted their price target for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Mizuho lifted their price target on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $59.71.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

General Motors Price Performance

Shares of NYSE:GM opened at $49.22 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. The firm has a 50-day simple moving average of $50.34 and a 200 day simple moving average of $50.40. The company has a market cap of $48.97 billion, a PE ratio of 8.00, a P/E/G ratio of 0.67 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating 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%. On average, sell-side analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio is presently 7.80%.

General Motors announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.