General Motors (NYSE:GM) Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 633.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 94,810 shares of the auto manufacturer’s stock after acquiring an additional 81,890 shares during the quarter. Meeder Asset Management Inc.’s holdings in General Motors were worth $5,051,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new position in General Motors in the fourth quarter valued at $25,000. Crews Bank & Trust acquired a new stake in General Motors in the 4th quarter valued at about $26,000. Compass Planning Associates Inc acquired a new stake in General Motors in the 4th quarter valued at about $27,000. Whittier Trust Co. boosted its stake in shares of General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 425 shares during the period. Finally, Duncker Streett & Co. Inc. grew its position in shares of General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after buying an additional 498 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction dated 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 completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GM. Cowen assumed coverage on shares of General Motors in a report on Thursday, March 6th. They issued a “buy” rating on the stock. Mizuho raised their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Piper Sandler boosted their target price on shares of General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. The Goldman Sachs Group set a $73.00 price target on General Motors in a research note on Saturday, March 1st. Finally, Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Three 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.11.

General Motors Stock Down 1.2 %

GM stock opened at $46.65 on Monday. The company has a market cap of $46.42 billion, a price-to-earnings ratio of 7.59, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company has a fifty day moving average price of $48.89 and a 200 day moving average price of $50.61. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24.

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, 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%. Sell-side 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 share buyback 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 an indication that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

The business also recently disclosed 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 1.03%. General Motors’s payout ratio is 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.