Northwest & Ethical Investments L.P. Buys 900 Shares of General Motors (NYSE:GM)

Northwest & Ethical Investments L.P. grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 20.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,400 shares of the auto manufacturer’s stock after purchasing an additional 900 shares during the period. Northwest & Ethical Investments L.P.’s holdings in General Motors were worth $287,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in General Motors by 0.5% during the third quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after buying an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of General Motors by 6.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after acquiring an additional 989,750 shares during the period. ACR Alpine Capital Research LLC boosted its position in shares of 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 acquiring an additional 2,104,528 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in General Motors by 6.6% in 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 acquiring an additional 358,507 shares during the period. Finally, Amundi raised its position in General Motors by 75.5% in the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after purchasing an additional 2,113,973 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GM shares. Piper Sandler lifted their price objective on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research note on Wednesday, December 11th. The Goldman Sachs Group set a $73.00 target price on shares of General Motors in a research note on Saturday, March 1st. Finally, UBS Group reiterated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.06.

General Motors Stock Up 0.7 %

NYSE GM opened at $49.77 on Friday. The stock has a market capitalization of $49.53 billion, a P/E ratio of 8.09, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a fifty day moving average of $49.02 and a 200-day moving average of $50.47.

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 for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, equities research analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. General Motors’s payout ratio is presently 7.80%.

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

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

General Motors 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.