General Motors (NYSE:GM) is Sciencast Management LP’s 3rd Largest Position

Sciencast Management LP increased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,298 shares of the auto manufacturer’s stock after purchasing an additional 3,502 shares during the period. General Motors accounts for 0.8% of Sciencast Management LP’s portfolio, making the stock its 3rd biggest position. Sciencast Management LP’s holdings in General Motors were worth $3,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GM. Golden State Wealth Management LLC purchased a new stake in shares of General Motors in the 4th quarter worth approximately $25,000. Crews Bank & Trust bought a new stake in General Motors in the fourth quarter worth $26,000. Truvestments Capital LLC purchased a new stake in shares of General Motors in the third quarter worth $27,000. Compass Planning Associates Inc bought a new position in shares of General Motors during the fourth quarter valued at $27,000. Finally, Duncker Streett & Co. Inc. raised its position 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 worth $27,000 after purchasing an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 0.7 %

GM opened at $49.77 on Friday. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. The firm’s 50 day simple moving average is $49.02 and its two-hundred day simple moving average is $50.46. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $49.53 billion, a PE ratio of 8.09, a PEG ratio of 0.67 and a beta of 1.42.

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

General Motors declared that its board has authorized a share repurchase program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a dividend of $0.12 per share. 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%.

Insider Buying and Selling

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 bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on GM. Mizuho increased their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. UBS Group reiterated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Piper Sandler boosted their price objective on shares of General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday. The Goldman Sachs Group set a $73.00 target price on General Motors in a research note on Saturday, March 1st. Finally, HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. Three investment 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 MarketBeat, General Motors has an average rating of “Hold” and an average target price of $63.06.

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.