May Hill Capital LLC Takes $551,000 Position in General Motors (NYSE:GM)

May Hill Capital LLC purchased a new position in General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, Holdings Channel reports. The fund purchased 10,337 shares of the auto manufacturer’s stock, valued at approximately $551,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of General Motors by 19.7% in the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after acquiring an additional 1,510 shares during the last quarter. SYM FINANCIAL Corp acquired a new position in General Motors in the fourth quarter worth $474,000. Asset Management One Co. Ltd. raised its holdings in shares of General Motors by 9.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock worth $25,178,000 after purchasing an additional 39,474 shares during the period. Avantra Family Wealth Inc. bought a new position in shares of General Motors in the 4th quarter worth about $1,044,000. Finally, Handelsbanken Fonder AB boosted its holdings in shares of General Motors by 10.9% in the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock valued at $10,763,000 after buying an additional 19,924 shares during the period. 92.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on GM. Cowen initiated coverage on General Motors in a report on Thursday, March 6th. They set a “buy” rating for the company. Piper Sandler raised their target price on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. lowered their price target on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, UBS Group reissued 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 given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.11.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors 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 owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.

General Motors Price Performance

Shares of General Motors stock opened at $47.06 on Tuesday. General Motors has a 52 week low of $38.96 and a 52 week 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 stock has a market cap of $46.82 billion, a PE ratio of 7.65, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company’s 50-day moving average price is $48.81 and its two-hundred day moving average price is $50.61.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.02%. General Motors’s dividend payout ratio (DPR) is 7.80%.

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