Intelligence Driven Advisers LLC Acquires New Stake in General Motors (NYSE:GM)

Intelligence Driven Advisers LLC purchased a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,515 shares of the auto manufacturer’s stock, valued at approximately $241,000.

Several other hedge funds have also made changes to their positions in GM. Golden State Wealth Management LLC acquired a new stake in General Motors in the 4th quarter valued at about $25,000. Crews Bank & Trust acquired a new position in General Motors during the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of General Motors in the 4th quarter valued at approximately $28,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Motors in the 4th quarter valued at $31,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of General Motors during the 3rd quarter worth $27,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Up 2.2 %

Shares of GM stock opened at $47.71 on Thursday. The business’s 50 day moving average is $51.37 and its two-hundred day moving average is $49.96. General Motors has a twelve month low of $37.83 and a twelve month high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $47.47 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 0.68 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data 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%. Equities analysts forecast that General Motors will post 11.28 EPS for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is 7.80%.

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the purchase, 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 document filed with the SEC, which is available through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GM. Sanford C. Bernstein increased their target price on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Wells Fargo & Company raised their target price on General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and upped their price target for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Barclays increased their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley upgraded shares of 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 report on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.28.

General Motors Company Profile

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.