General Motors (NYSE:GM) Shares Bought by Cohen & Steers Inc.

Cohen & Steers Inc. lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,837 shares of the auto manufacturer’s stock after buying an additional 345 shares during the quarter. Cohen & Steers Inc.’s holdings in General Motors were worth $364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Blue Trust Inc. raised its position in General Motors by 19.7% during the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock worth $488,000 after acquiring an additional 1,510 shares during the last quarter. SYM FINANCIAL Corp acquired a new position in shares of General Motors during the 4th quarter worth approximately $474,000. Asset Management One Co. Ltd. lifted its stake in General Motors by 9.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after buying an additional 39,474 shares in the last quarter. Avantra Family Wealth Inc. acquired a new stake in General Motors during the 4th quarter valued at $1,044,000. Finally, Handelsbanken Fonder AB increased its position in General Motors by 10.9% during the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock worth $10,763,000 after buying an additional 19,924 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

General Motors Stock Down 1.3 %

Shares of NYSE GM opened at $44.55 on Wednesday. The stock has a fifty day moving average price of $47.24 and a 200 day moving average price of $50.34. 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. The company has a market cap of $44.33 billion, a P/E ratio of 7.24, a P/E/G ratio of 0.67 and a beta of 1.27.

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 (EPS) for the quarter, beating 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%. Research analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

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

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.08%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Sanford C. Bernstein lowered General Motors from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $50.00 to $35.00 in a research note on Monday, April 7th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Barclays downgraded General Motors from an “overweight” rating to a “negative” rating in a report on Tuesday. Finally, TD Cowen began coverage on General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 price objective on the stock. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.72.

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.