General Motors (NYSE:GM) Stock Position Decreased by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 530,829 shares of the auto manufacturer’s stock after selling 1,326 shares during the period. General Motors accounts for approximately 3.7% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 11th biggest position. Minneapolis Portfolio Management Group LLC’s holdings in General Motors were worth $28,277,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its position in shares of General Motors by 19.7% during the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after buying an additional 1,510 shares during the last quarter. SYM FINANCIAL Corp bought a new position in General Motors in the 4th quarter worth about $474,000. Asset Management One Co. Ltd. grew its position in General Motors by 9.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock worth $25,178,000 after purchasing an additional 39,474 shares during the last quarter. Avantra Family Wealth Inc. bought a new position in General Motors in the 4th quarter worth about $1,044,000. Finally, Handelsbanken Fonder AB grew its position in General Motors by 10.9% in the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock worth $10,763,000 after purchasing an additional 19,924 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on GM shares. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Cowen started coverage on shares of General Motors in a report on Thursday, March 6th. They issued a “buy” rating for the company. Piper Sandler increased their price objective on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and increased their price objective for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.06.

General Motors Stock Up 0.7 %

Shares of NYSE:GM opened at $49.77 on Monday. 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 company has a market cap 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. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The firm has a 50 day simple moving average of $49.02 and a 200 day simple moving average of $50.49.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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 net margin of 3.21% and a return on equity of 15.29%. As a group, research analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its Board of Directors has approved a stock buyback program on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are generally 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. Shareholders of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 0.96%. General Motors’s dividend payout ratio is presently 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.