Naples Money Management LLC Invests $80,000 in General Motors (NYSE:GM)

Naples Money Management LLC purchased a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,241 shares of the auto manufacturer’s stock, valued at approximately $80,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SouthState Corp lifted its stake in General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after buying an additional 485 shares in the last quarter. Penserra Capital Management LLC lifted its stake in General Motors by 85.8% in the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after buying an additional 283 shares in the last quarter. Highlander Capital Management LLC purchased a new position in General Motors in the 4th quarter valued at about $27,000. BluePath Capital Management LLC acquired a new stake in General Motors in the 3rd quarter valued at about $33,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in General Motors in the 4th quarter valued at about $36,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GM shares. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Wells Fargo & Company increased their price objective on shares of General Motors from $27.00 to $28.00 and gave the company an “underweight” rating in a report on Wednesday, January 31st. Royal Bank of Canada increased their price objective on shares of General Motors from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Wolfe Research upgraded shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Thursday, January 4th. Finally, Tigress Financial raised their price target on shares of General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.57.

General Motors Stock Down 0.2 %

Shares of General Motors stock traded down $0.06 during trading on Friday, hitting $42.38. 15,506,288 shares of the stock were exchanged, compared to its average volume of 17,394,033. The stock has a market cap of $48.92 billion, a price-to-earnings ratio of 5.85, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The firm’s 50-day moving average price is $41.57 and its 200 day moving average price is $35.73. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.08. The business had revenue of $42.98 billion during the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $2.12 EPS. As a group, analysts forecast that General Motors will post 9.12 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were paid a dividend of $0.12 per share. This is a positive change from General Motors’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Thursday, February 29th. General Motors’s dividend payout ratio (DPR) is currently 6.57%.

Insider Buying and Selling

In related news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock worth $3,614,078 in the last ninety days. 0.54% of the stock is owned by corporate insiders.

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.