General Motors (NYSE:GM) Shares Bought by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,543 shares of the auto manufacturer’s stock after buying an additional 1,201 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in General Motors were worth $3,438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GM. Norges Bank acquired a new position in General Motors in the fourth quarter valued at approximately $592,321,000. Amundi raised its position in General Motors by 75.5% in the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after purchasing an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC lifted its stake in shares of General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after purchasing an additional 2,104,528 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of General Motors during the 4th quarter worth $108,366,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of General Motors by 972.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after purchasing an additional 1,906,964 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GM. Piper Sandler upped their target price on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. The Goldman Sachs Group set a $73.00 price target on General Motors in a research note on Saturday, March 1st. Finally, HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.11.

General Motors Stock Performance

Shares of GM stock opened at $46.65 on Monday. The company has a market cap of $46.42 billion, a P/E ratio of 7.59, a PEG ratio of 0.67 and a beta of 1.42. The firm has a fifty day moving average price of $48.89 and a 200 day moving average price of $50.61. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Sell-side analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

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

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. General Motors’s payout ratio is currently 7.80%.

General Motors 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.