General Motors (NYSE:GM) Shares Sold by Knightsbridge Asset Management LLC

Knightsbridge Asset Management LLC decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,941 shares of the auto manufacturer’s stock after selling 4,648 shares during the quarter. General Motors accounts for approximately 1.8% of Knightsbridge Asset Management LLC’s investment portfolio, making the stock its 18th largest holding. Knightsbridge Asset Management LLC’s holdings in General Motors were worth $7,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Franklin Resources Inc. grew its holdings in General Motors by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock valued at $1,559,380,000 after buying an additional 1,170,816 shares in the last quarter. Geode Capital Management LLC raised its stake in General Motors by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock valued at $1,264,567,000 after buying an additional 176,436 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in General Motors by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer’s stock worth $749,382,000 after purchasing an additional 228,408 shares during the last quarter. Norges Bank acquired a new position in shares of General Motors in the 4th quarter valued at $592,321,000. Finally, ACR Alpine Capital Research LLC increased its position in shares of General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after purchasing an additional 2,104,528 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insiders Place Their Bets

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

General Motors Price Performance

Shares of NYSE GM opened at $46.86 on Friday. The business’s fifty day moving average price is $46.89 and its two-hundred day moving average price is $50.30. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. The firm has a market capitalization of $46.63 billion, a PE ratio of 7.62, a P/E/G ratio of 0.67 and a beta of 1.27. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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%. On average, research analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors declared that its Board of Directors has authorized a share buyback plan 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 plans are generally a sign that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio is presently 7.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GM. Barclays lowered shares of General Motors from an “overweight” rating to a “negative” rating in a research note on Tuesday, April 15th. Cowen initiated coverage on shares of General Motors in a research report on Thursday, March 6th. They issued a “buy” rating on the stock. UBS Group reissued a “neutral” rating and set a $51.00 price target (down previously from $64.00) on shares of General Motors in a research note on Thursday, April 10th. Sanford C. Bernstein lowered shares of General Motors from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $50.00 to $35.00 in a research report on Monday, April 7th. Finally, TD Cowen assumed coverage on shares of General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 target price for the company. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $54.83.

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.