Knightsbridge Asset Management LLC Decreases Position in General Motors (NYSE:GM)

Knightsbridge Asset Management LLC reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 141,941 shares of the auto manufacturer’s stock after selling 4,648 shares during the quarter. General Motors accounts for approximately 1.8% of Knightsbridge Asset Management LLC’s holdings, making the stock its 18th biggest position. Knightsbridge Asset Management LLC’s holdings in General Motors were worth $7,561,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Virtu Financial LLC boosted its position in shares of General Motors by 770.3% in the 3rd quarter. Virtu Financial LLC now owns 99,054 shares of the auto manufacturer’s stock worth $4,442,000 after purchasing an additional 87,672 shares in the last quarter. Te Ahumairangi Investment Management Ltd increased its position in General Motors by 6.6% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 100,708 shares of the auto manufacturer’s stock worth $4,490,000 after purchasing an additional 6,200 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of General Motors during the third quarter valued at about $237,000. Wilmington Savings Fund Society FSB purchased a new stake in General Motors during the third quarter worth about $1,907,000. Finally, Tidal Investments LLC raised its holdings in General Motors by 44.7% in the third quarter. Tidal Investments LLC now owns 65,389 shares of the auto manufacturer’s stock valued at $2,932,000 after acquiring an additional 20,206 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Trading Up 2.2 %

GM opened at $46.86 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a one year low of $38.96 and a one year high of $61.24. The firm has a market capitalization of $46.63 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 0.67 and a beta of 1.27. The business has a 50 day simple moving average of $46.89 and a two-hundred day simple moving average of $50.30.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results 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%. Analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders 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 yield of 1.02%. General Motors’s payout ratio is 7.80%.

General Motors announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have commented on GM. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research note on Monday, April 14th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Piper Sandler raised their price target on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Finally, Citigroup started coverage on shares of General Motors in a research report on Wednesday. They issued a “buy” rating and a $62.00 price target on the stock. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $54.83.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average price 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. This represents a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

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.