Dorsey Wright & Associates acquired a new position in shares of General Motors Company (NYSE:GM – Free Report) (TSE:GMM.U) during the 4th quarter, Holdings Channel.com reports. The fund acquired 29,445 shares of the auto manufacturer’s stock, valued at approximately $2,394,000.
Other hedge funds also recently modified their holdings of the company. Cibc World Market Inc. boosted its position in shares of General Motors by 57.2% in the 4th quarter. Cibc World Market Inc. now owns 200,662 shares of the auto manufacturer’s stock worth $16,318,000 after purchasing an additional 72,984 shares during the last quarter. M&T Bank Corp increased its holdings in General Motors by 82.0% in the fourth quarter. M&T Bank Corp now owns 72,062 shares of the auto manufacturer’s stock valued at $5,860,000 after purchasing an additional 32,474 shares during the last quarter. Legacy Capital Group California Inc. increased its holdings in General Motors by 206.4% in the fourth quarter. Legacy Capital Group California Inc. now owns 21,004 shares of the auto manufacturer’s stock valued at $1,708,000 after purchasing an additional 14,150 shares during the last quarter. Perbak Capital Partners LLP lifted its stake in General Motors by 94.1% in the third quarter. Perbak Capital Partners LLP now owns 47,086 shares of the auto manufacturer’s stock valued at $2,871,000 after buying an additional 22,829 shares during the period. Finally, Leonteq Securities AG bought a new position in General Motors during the fourth quarter worth about $17,753,000. Institutional investors and hedge funds own 92.67% of the company’s stock.
General Motors Price Performance
Shares of NYSE GM opened at $79.45 on Friday. The company has a fifty day moving average price of $79.11 and a 200 day moving average price of $79.21. The firm has a market cap of $71.64 billion, a PE ratio of 32.04, a PEG ratio of 0.40 and a beta of 1.30. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.41. General Motors Company has a 1-year low of $47.63 and a 1-year high of $87.62.
General Motors Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, June 5th. General Motors’s dividend payout ratio (DPR) is currently 29.03%.
Insider Buying and Selling at General Motors
In other General Motors news, EVP Rory Harvey sold 9,124 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $84.97, for a total transaction of $775,266.28. Following the completion of the transaction, the executive vice president owned 37,395 shares of the company’s stock, valued at $3,177,453.15. This represents a 19.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Christopher Hatto sold 6,895 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $85.00, for a total transaction of $586,075.00. Following the transaction, the chief accounting officer directly owned 25,794 shares of the company’s stock, valued at $2,192,490. This represents a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 697,388 shares of company stock worth $57,752,596. Corporate insiders own 0.54% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on GM shares. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and boosted their target price for the stock from $83.00 to $90.00 in a research report on Tuesday, April 14th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of General Motors in a research report on Friday, June 12th. Evercore reissued an “outperform” rating and set a $100.00 price objective on shares of General Motors in a research note on Monday, May 4th. UBS Group restated a “buy” rating on shares of General Motors in a report on Wednesday, June 10th. Finally, The Goldman Sachs Group lowered their target price on shares of General Motors from $104.00 to $91.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, General Motors currently has an average rating of “Moderate Buy” and an average target price of $95.65.
Check Out Our Latest Report on General Motors
General Motors Profile
General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.
GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.
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