Runnymede Capital Advisors Inc. Buys New Position in General Motors (NYSE:GM)

Runnymede Capital Advisors Inc. bought a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 870 shares of the auto manufacturer’s stock, valued at approximately $46,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mizuho Securities USA LLC boosted its position in shares of General Motors by 43.0% during the 4th quarter. Mizuho Securities USA LLC now owns 104,217 shares of the auto manufacturer’s stock valued at $5,552,000 after purchasing an additional 31,337 shares in the last quarter. Fi3 FINANCIAL ADVISORS LLC bought a new stake in shares of General Motors during the 4th quarter valued at about $237,000. Sciencast Management LP raised its stake in General Motors by 6.5% during the 4th quarter. Sciencast Management LP now owns 57,298 shares of the auto manufacturer’s stock worth $3,052,000 after buying an additional 3,502 shares during the period. Summit Global Investments raised its stake in General Motors by 54.8% during the 4th quarter. Summit Global Investments now owns 14,448 shares of the auto manufacturer’s stock worth $770,000 after buying an additional 5,112 shares during the period. Finally, Millstone Evans Group LLC acquired a new position in General Motors during the 4th quarter worth approximately $106,000. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction on 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 completion of the transaction, 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 filing with the SEC, which is available through this link. Company insiders own 0.72% of the company’s stock.

General Motors Trading Up 0.7 %

Shares of GM stock opened at $49.77 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24. The company has a market capitalization of $49.53 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The business’s fifty day moving average is $49.02 and its 200 day moving average is $50.47.

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

General Motors announced that its board has authorized a share buyback plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were given 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 yield of 0.96%. General Motors’s payout ratio is 7.80%.

Analyst Ratings Changes

A number of research analysts recently weighed in on GM shares. Piper Sandler upped their price target on General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and upped their price target for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Cowen started coverage on General Motors in a research note on Thursday, March 6th. They set a “buy” rating on the stock. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, December 11th. Finally, Mizuho upped their price target on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.06.

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.