Aster Capital Management DIFC Ltd Sells 35,582 Shares of General Motors (NYSE:GM)

Aster Capital Management DIFC Ltd reduced its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 69.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,931 shares of the auto manufacturer’s stock after selling 35,582 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in General Motors were worth $849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GM. Quadrant Capital Group LLC lifted its position in shares of General Motors by 5.0% in the fourth quarter. Quadrant Capital Group LLC now owns 8,417 shares of the auto manufacturer’s stock valued at $448,000 after buying an additional 400 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co bought a new stake in General Motors in the 4th quarter valued at $5,327,000. Wedbush Securities Inc. lifted its holdings in General Motors by 5.2% during the 4th quarter. Wedbush Securities Inc. now owns 25,483 shares of the auto manufacturer’s stock valued at $1,357,000 after purchasing an additional 1,253 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in General Motors by 4.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,170,933 shares of the auto manufacturer’s stock worth $115,646,000 after purchasing an additional 96,337 shares during the period. Finally, KCM Investment Advisors LLC acquired a new position in shares of General Motors in the fourth quarter valued at $221,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Motors

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

General Motors Stock Down 3.7 %

Shares of NYSE GM opened at $44.22 on Friday. The firm has a fifty day simple moving average of $48.22 and a two-hundred day simple moving average of $50.57. The firm has a market capitalization of $44.00 billion, a PE ratio of 7.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Equities analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.09%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. TD Cowen started coverage on General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and upped their price target for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. UBS Group reiterated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, General Motors has a consensus rating of “Hold” and an average target price of $62.11.

General Motors Company 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.