Plato Investment Management Ltd Acquires 580 Shares of General Motors (NYSE:GM)

Plato Investment Management Ltd grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,516 shares of the auto manufacturer’s stock after purchasing an additional 580 shares during the quarter. Plato Investment Management Ltd’s holdings in General Motors were worth $2,540,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of General Motors in the 4th quarter valued at about $25,000. Crews Bank & Trust bought a new position in shares of General Motors in the 4th quarter valued at about $26,000. Catalyst Capital Advisors LLC bought a new position in shares of General Motors in the 3rd quarter valued at about $27,000. Truvestments Capital LLC bought a new position in shares of General Motors in the 3rd quarter valued at about $27,000. Finally, Compass Planning Associates Inc bought a new position in shares of General Motors in the 4th quarter valued at about $27,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GM shares. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Mizuho lifted their price objective on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research note on Wednesday, December 11th. Finally, Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $59.71.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares in the company, valued at approximately $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 can be accessed through the SEC website. 0.72% of the stock is owned by corporate insiders.

General Motors Price Performance

NYSE GM opened at $49.22 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24. The company has a market capitalization of $48.97 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. The firm’s 50 day moving average is $50.34 and its 200-day moving average is $50.45.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.98%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

General Motors declared that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback programs are typically an indication 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.