Longbow Finance SA Acquires New Position in General Motors (NYSE:GM)

Longbow Finance SA acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, HoldingsChannel reports. The fund acquired 110,102 shares of the auto manufacturer’s stock, valued at approximately $5,865,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in General Motors during the 4th quarter valued at about $25,000. Crews Bank & Trust acquired a new position in General Motors during the 4th quarter valued at about $26,000. Compass Planning Associates Inc acquired a new position in General Motors during the 4th quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in General Motors during the 4th quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in General Motors during the 4th quarter valued at about $31,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GM shares. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. UBS Group reaffirmed a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised shares of 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. Finally, Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $59.71.

General Motors Stock Performance

GM stock opened at $46.55 on Tuesday. General Motors has a 12 month low of $38.94 and a 12 month high of $61.24. The company has a market capitalization of $46.31 billion, a price-to-earnings ratio of 7.57, a P/E/G ratio of 0.67 and a beta of 1.40. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The firm has a 50 day moving average of $50.57 and a two-hundred day moving average of $50.32.

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

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio is 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 acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by corporate insiders.

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.