General Motors (NYSE:GM) Shares Sold by Jacobi Capital Management LLC

Jacobi Capital Management LLC reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 0.8% in the fourth quarter, HoldingsChannel reports. The fund owned 33,395 shares of the auto manufacturer’s stock after selling 253 shares during the quarter. Jacobi Capital Management LLC’s holdings in General Motors were worth $1,779,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in shares of General Motors by 19.7% in the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock worth $488,000 after purchasing an additional 1,510 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of General Motors by 15.9% during the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after acquiring an additional 1,559 shares during the period. Foster & Motley Inc. raised its holdings in shares of General Motors by 121.5% during the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after acquiring an additional 25,869 shares during the period. Stoneridge Investment Partners LLC raised its holdings in shares of General Motors by 115.1% during the third quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after acquiring an additional 95,484 shares during the period. Finally, SYM FINANCIAL Corp acquired a new stake in shares of General Motors during the fourth quarter valued at approximately $474,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GM shares. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. UBS Group reiterated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Mizuho boosted their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, 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. 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 stock. According to data from MarketBeat, General Motors presently has an average rating of “Hold” and a consensus target price of $59.71.

General Motors Trading Up 3.3 %

Shares of GM stock opened at $49.22 on Friday. General Motors has a 52-week low of $38.94 and a 52-week high of $61.24. The stock has a market cap of $48.97 billion, a price-to-earnings ratio of 8.00, a P/E/G ratio of 0.67 and a beta of 1.40. 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 fifty day moving average of $50.34 and a 200-day moving average of $50.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced 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%. On average, equities research analysts forecast 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 paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio is 7.80%.

General Motors announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 13,714 shares of the company’s stock, 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 is available through this link. Corporate insiders own 0.72% of the company’s stock.

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.