Johnson Investment Counsel Inc. Grows Stake in General Motors (NYSE:GM)

Johnson Investment Counsel Inc. grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 74.5% during the fourth quarter, HoldingsChannel reports. The fund owned 14,856 shares of the auto manufacturer’s stock after purchasing an additional 6,344 shares during the period. Johnson Investment Counsel Inc.’s holdings in General Motors were worth $791,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of General Motors in the 4th quarter valued at about $25,000. Crews Bank & Trust purchased a new position in shares of General Motors in the 4th quarter valued at about $26,000. Truvestments Capital LLC purchased a new position in shares of General Motors in the 3rd quarter valued at about $27,000. Compass Planning Associates Inc purchased a new position in shares of General Motors in the 4th quarter valued at about $27,000. Finally, Duncker Streett & Co. Inc. increased its holdings in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction that occurred 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 acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GM shares. TD Cowen initiated coverage on General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective on the stock. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Cowen initiated coverage on General Motors in a research note on Thursday, March 6th. They set a “buy” rating on the stock. The Goldman Sachs Group set a $73.00 price target on General Motors in a research note on Saturday, March 1st. Finally, Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus price target of $62.89.

General Motors Stock Down 0.8 %

GM opened at $47.92 on Thursday. 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 business has a 50 day simple moving average of $49.38 and a 200-day simple moving average of $50.49. The stock has a market capitalization of $47.68 billion, a P/E ratio of 7.79, a P/E/G ratio of 0.67 and a beta of 1.42. General Motors has a 12 month low of $38.94 and a 12 month high of $61.24.

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, beating 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%. On average, equities analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued 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 is currently 7.80%.

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.