Treasurer of the State of North Carolina Increases Stock Position in General Motors (NYSE:GM)

Treasurer of the State of North Carolina raised its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 645,174 shares of the auto manufacturer’s stock after purchasing an additional 8,923 shares during the period. Treasurer of the State of North Carolina owned approximately 0.06% of General Motors worth $34,368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Scotia Capital Inc. boosted its position in shares of General Motors by 5.3% during the fourth quarter. Scotia Capital Inc. now owns 238,848 shares of the auto manufacturer’s stock valued at $12,724,000 after buying an additional 12,060 shares during the last quarter. Bessemer Group Inc. lifted its stake in General Motors by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer’s stock valued at $2,856,000 after acquiring an additional 226 shares during the period. DRW Securities LLC purchased a new stake in shares of General Motors during the 4th quarter valued at about $221,000. Azimuth Capital Investment Management LLC purchased a new stake in shares of General Motors during the 4th quarter valued at about $211,000. Finally, Advisory Services Network LLC grew its stake in shares of General Motors by 6.6% in the fourth quarter. Advisory Services Network LLC now owns 45,258 shares of the auto manufacturer’s stock worth $2,411,000 after acquiring an additional 2,796 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 4.0 %

Shares of GM stock opened at $43.91 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a fifty day simple moving average of $47.46 and a two-hundred day simple moving average of $50.37. The firm has a market capitalization of $43.69 billion, a PE ratio of 7.14, a PEG ratio of 0.67 and a beta of 1.27. 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 released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share 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%. On average, analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its board has authorized a stock 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 buy up to 12.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

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

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was purchased 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 directly owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

GM has been the topic of a number of research analyst reports. UBS Group restated a “neutral” rating and issued a $51.00 target price (down previously from $64.00) on shares of General Motors in a report on Thursday. Piper Sandler increased their price target on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group reduced their price objective on General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday. Finally, TD Cowen assumed coverage on General Motors in a research report on Friday, March 7th. They issued a “buy” rating and a $105.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.33.

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.