Wellington Management Group LLP Acquires 7,081 Shares of General Motors (NYSE:GM)

Wellington Management Group LLP grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,195,961 shares of the auto manufacturer’s stock after acquiring an additional 7,081 shares during the period. Wellington Management Group LLP owned 0.12% of General Motors worth $63,709,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GM. Trust Point Inc. boosted its holdings in General Motors by 2.7% in the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after purchasing an additional 193 shares in the last quarter. Continuum Advisory LLC lifted its position in shares of General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after buying an additional 213 shares during the last quarter. Holistic Planning LLC boosted its stake in shares of General Motors by 3.9% during the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after acquiring an additional 214 shares in the last quarter. Norden Group LLC increased its holdings in shares of General Motors by 3.0% during the 4th quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock valued at $421,000 after acquiring an additional 229 shares during the last quarter. Finally, Hilltop National Bank raised its stake in shares of General Motors by 6.9% in the 4th quarter. Hilltop National Bank now owns 3,876 shares of the auto manufacturer’s stock valued at $206,000 after acquiring an additional 249 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and increased their price target for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. dropped their target price on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Piper Sandler lifted their price objective on General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Finally, Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $62.11.

Insider Buying and Selling

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

General Motors Trading Down 3.7 %

Shares of General Motors stock opened at $44.22 on Friday. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24. The firm has a market capitalization of $44.00 billion, a PE ratio of 7.19, a price-to-earnings-growth 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. The company’s fifty day moving average price is $48.22 and its two-hundred day moving average price is $50.55.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results 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, analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.09%. General Motors’s payout ratio is presently 7.80%.

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

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.