Nemes Rush Group LLC Grows Stock Position in General Motors (NYSE:GM)

Nemes Rush Group LLC raised its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 18.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,379 shares of the auto manufacturer’s stock after acquiring an additional 217 shares during the quarter. Nemes Rush Group LLC’s holdings in General Motors were worth $73,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of General Motors during the fourth quarter valued at $25,000. Crews Bank & Trust purchased a new position in General Motors in the 4th quarter valued at about $26,000. Compass Planning Associates Inc purchased a new position in General Motors in the 4th quarter valued at about $27,000. Duncker Streett & Co. Inc. boosted its stake in shares of General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares during the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of General Motors by 551.9% during the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after buying an additional 425 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GM. Piper Sandler upped their price objective 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. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. UBS Group reaffirmed a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.11.

General Motors Price Performance

Shares of NYSE GM opened at $47.99 on Thursday. 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 1-year low of $38.96 and a 1-year high of $61.24. The company has a market capitalization of $47.75 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 0.67 and a beta of 1.42. The business has a 50-day moving average of $48.58 and a 200-day moving average of $50.60.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results 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, equities analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is 7.80%.

General Motors announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were bought at an average cost 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 trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.

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.