General Motors (NYSE:GM) Shares Sold by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 530,829 shares of the auto manufacturer’s stock after selling 1,326 shares during the period. General Motors accounts for about 3.7% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 11th biggest position. Minneapolis Portfolio Management Group LLC owned about 0.05% of General Motors worth $28,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of GM. Geode Capital Management LLC grew its stake in General Motors by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after acquiring an additional 106,878 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in General Motors by 6.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after acquiring an additional 989,750 shares during the period. ACR Alpine Capital Research LLC grew its stake in General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after acquiring an additional 2,104,528 shares during the period. Jacobs Levy Equity Management Inc. grew its stake 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 acquiring an additional 358,507 shares during the period. Finally, Amundi grew its stake in General Motors by 75.5% in the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after acquiring an additional 2,113,973 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on GM shares. TD Cowen started coverage on shares of General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price objective for the company. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. The Goldman Sachs Group set a $73.00 price objective on shares of General Motors in a research note on Saturday, March 1st. Mizuho boosted their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and boosted their price objective for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.06.

General Motors Stock Performance

Shares of GM stock opened at $49.77 on Monday. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. 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 firm has a market capitalization of $49.53 billion, a P/E ratio of 8.09, a P/E/G ratio of 0.67 and a beta of 1.42. The company’s fifty day moving average price is $49.02 and its two-hundred day moving average price is $50.49.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data 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%. On average, research analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.96%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

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

Insider Activity

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

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.