Davis R M Inc. Purchases New Holdings in General Motors (NYSE:GM)

Davis R M Inc. purchased a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 3,804 shares of the auto manufacturer’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in General Motors in the 4th quarter valued at about $25,000. Crews Bank & Trust purchased a new position in General Motors in the 4th quarter worth approximately $26,000. Truvestments Capital LLC purchased a new position in General Motors in the 3rd quarter worth approximately $27,000. Compass Planning Associates Inc purchased a new position in General Motors in the 4th quarter worth approximately $27,000. Finally, Duncker Streett & Co. Inc. lifted its stake in General Motors by 9,960.0% in 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. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GM. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group set a $73.00 target price on shares of General Motors in a research note on Saturday, March 1st. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, TD Cowen began coverage on shares of General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 price target for the company. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.89.

Insiders Place Their Bets

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

General Motors Stock Down 0.8 %

General Motors stock opened at $47.92 on Thursday. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. 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 firm has a 50 day moving average price of $49.38 and a 200 day moving average price of $50.49. The company has a market capitalization of $47.68 billion, a PE ratio of 7.79, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.

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

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. General Motors’s dividend payout ratio (DPR) is 7.80%.

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

About General Motors

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.