Harbour Investments Inc. Has $684,000 Position in General Motors (NYSE:GM)

Harbour Investments Inc. raised its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,848 shares of the auto manufacturer’s stock after purchasing an additional 559 shares during the quarter. Harbour Investments Inc.’s holdings in General Motors were worth $684,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Amundi increased its position in shares of General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after acquiring an additional 2,113,973 shares in the last quarter. ACR Alpine Capital Research LLC boosted its stake in General Motors by 39.8% during the 4th 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 during the last quarter. Raymond James Financial Inc. bought a new stake in General Motors during the 4th quarter worth approximately $108,366,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of General Motors by 972.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after purchasing an additional 1,906,964 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of General Motors by 123.1% in the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after purchasing an additional 1,779,897 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Price Performance

GM opened at $49.84 on Thursday. The firm has a 50-day moving average price of $49.05 and a 200-day moving average price of $50.47. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. 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 company has a market capitalization of $49.59 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share 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 expect that General Motors will post 11.44 EPS for the current year.

General Motors declared that its board has authorized a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. General Motors’s dividend payout ratio (DPR) is 7.80%.

Insiders Place Their Bets

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GM shares. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a report on Wednesday, December 11th. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.89.

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.