General Motors (NYSE:GM) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co reduced its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,754 shares of the auto manufacturer’s stock after selling 6,404 shares during the period. Elo Mutual Pension Insurance Co’s holdings in General Motors were worth $5,847,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GM. Geode Capital Management LLC boosted its holdings in General Motors by 0.5% in the third quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock valued at $1,055,395,000 after purchasing an additional 106,878 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of General Motors by 6.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after buying an additional 989,750 shares during the last quarter. ACR Alpine Capital Research LLC lifted its holdings in General Motors by 39.8% in the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after acquiring an additional 2,104,528 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in General Motors by 6.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock worth $259,988,000 after purchasing an additional 358,507 shares in the last quarter. Finally, Amundi grew its stake in shares of General Motors by 75.5% during the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after purchasing an additional 2,113,973 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GM. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a report on Wednesday, December 11th. Cowen started coverage on General Motors in a report on Thursday, March 6th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and upped their target price for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Finally, Piper Sandler boosted their price target on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, General Motors has a consensus rating of “Hold” and an average price target of $62.11.

Insider Buying and Selling

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by insiders.

General Motors Stock Performance

NYSE GM opened at $47.24 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The company has a market cap of $47.00 billion, a P/E ratio of 7.68, a P/E/G ratio of 0.67 and a beta of 1.42. The stock has a 50-day moving average of $48.97 and a two-hundred day moving average of $50.53. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its 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 net margin of 3.21% and a return on equity of 15.29%. As a group, analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

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