Aster Capital Management DIFC Ltd Sells 35,582 Shares of General Motors (NYSE:GM)

Aster Capital Management DIFC Ltd trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 69.1% in the 4th quarter, HoldingsChannel reports. The firm owned 15,931 shares of the auto manufacturer’s stock after selling 35,582 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in General Motors were worth $849,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in shares of General Motors during the fourth quarter valued at about $25,000. Crews Bank & Trust bought a new position in General Motors during the fourth quarter valued at approximately $26,000. Compass Planning Associates Inc purchased a new position in General Motors during the 4th quarter valued at approximately $27,000. Duncker Streett & Co. Inc. increased its stake in 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 acquiring an additional 498 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in shares of General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 425 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Down 3.7 %

Shares of GM opened at $44.22 on Friday. The company’s 50-day simple moving average is $48.22 and its 200-day simple moving average is $50.57. 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 1 year low of $38.96 and a 1 year high of $61.24. The stock has a market capitalization of $44.00 billion, a PE ratio of 7.19, a P/E/G ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results 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 net margin of 3.21% and a return on equity of 15.29%. Analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

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

General Motors Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.09%. General Motors’s payout ratio is 7.80%.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

GM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and boosted their target price for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Piper Sandler increased their price target on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. Finally, The Goldman Sachs Group set a $73.00 price objective on shares of General Motors in a research note on Saturday, March 1st. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.11.

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.