Mount Lucas Management LP Sells 1,081 Shares of General Motors (NYSE:GM)

Mount Lucas Management LP decreased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,177 shares of the auto manufacturer’s stock after selling 1,081 shares during the quarter. Mount Lucas Management LP’s holdings in General Motors were worth $968,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GM. Geode Capital Management LLC grew its holdings in General Motors by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock valued at $1,055,395,000 after buying an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in General Motors by 6.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after acquiring an additional 989,750 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in General Motors by 3.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after acquiring an additional 421,989 shares during the last quarter. ACR Alpine Capital Research LLC grew its position in shares of General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after purchasing an additional 2,104,528 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in General Motors by 6.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after buying an additional 358,507 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 11th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. UBS Group reissued a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and boosted their price objective for the company from $56.00 to $60.00 in a research report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $62.22.

Insiders Place Their Bets

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

General Motors Trading Up 0.4 %

GM opened at $47.39 on Monday. 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 firm has a market cap of $47.16 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.67 and a beta of 1.42. General Motors has a 12 month low of $38.94 and a 12 month high of $61.24. The stock has a fifty day moving average price of $49.70 and a 200-day moving average price of $50.50.

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, 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%. As a group, equities research analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

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

General Motors announced that its board has approved a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.