Horizon Investments LLC Has $1.93 Million Stake in General Motors (NYSE:GM)

Horizon Investments LLC trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,252 shares of the auto manufacturer’s stock after selling 1,258 shares during the period. Horizon Investments LLC’s holdings in General Motors were worth $1,931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of General Motors in the fourth quarter valued at $25,000. Crews Bank & Trust acquired a new position in shares of General Motors in the fourth quarter valued at $26,000. Truvestments Capital LLC acquired a new position in shares of General Motors in the third quarter valued at $27,000. Compass Planning Associates Inc acquired a new position in shares of General Motors in the fourth quarter valued at $27,000. Finally, Duncker Streett & Co. Inc. increased its holdings in shares of General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 498 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GM has been the topic of several research reports. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a report on Wednesday, December 11th. TD Cowen started coverage on shares of General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 price target on the stock. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, UBS Group restated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $62.89.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was purchased 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 of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

General Motors Trading Down 0.8 %

GM opened at $48.62 on Wednesday. The stock has a market capitalization of $48.38 billion, a price-to-earnings ratio of 7.91, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a 50-day simple moving average of $49.07 and a 200 day simple moving average of $50.47.

General Motors (NYSE:GM) (TSE:GMM.U) last posted 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%. Analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

General Motors declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.