KLP Kapitalforvaltning AS Makes New Investment in General Motors (NYSE:GM)

KLP Kapitalforvaltning AS acquired a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 531,224 shares of the auto manufacturer’s stock, valued at approximately $28,298,000. KLP Kapitalforvaltning AS owned approximately 0.05% of General Motors at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new position in shares of General Motors during the 4th quarter valued at approximately $25,000. Crews Bank & Trust purchased a new position in shares of General Motors during the 4th quarter valued at approximately $26,000. Compass Planning Associates Inc purchased a new position in shares of General Motors during the 4th quarter valued at approximately $27,000. Whittier Trust Co. lifted its position in shares of General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 425 shares in the last quarter. Finally, Duncker Streett & Co. Inc. lifted its position in shares of General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GM shares. TD Cowen started coverage on General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 target price on the stock. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Mizuho raised their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $63.06.

General Motors Stock Up 0.7 %

Shares of GM opened at $49.77 on Friday. The stock has a fifty day simple moving average of $49.02 and a two-hundred day simple moving average of $50.47. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $49.53 billion, a PE 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.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, equities analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

General Motors Dividend Announcement

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

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.