Corient Private Wealth LLC Increases Holdings in General Motors (NYSE:GM)

Corient Private Wealth LLC grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 353,506 shares of the auto manufacturer’s stock after acquiring an additional 22,475 shares during the period. Corient Private Wealth LLC’s holdings in General Motors were worth $18,829,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of General Motors by 19.7% in the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock worth $488,000 after buying an additional 1,510 shares in the last quarter. SYM FINANCIAL Corp purchased a new stake in shares of General Motors in the fourth quarter worth about $474,000. Asset Management One Co. Ltd. lifted its position in shares of General Motors by 9.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock worth $25,178,000 after buying an additional 39,474 shares in the last quarter. Avantra Family Wealth Inc. purchased a new stake in shares of General Motors in the fourth quarter worth about $1,044,000. Finally, Handelsbanken Fonder AB lifted its position in shares of General Motors by 10.9% in 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 Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

General Motors Trading Down 0.8 %

GM opened at $48.62 on Wednesday. The stock’s fifty day moving average is $49.07 and its two-hundred day moving average is $50.47. The company has a market capitalization of $48.38 billion, a P/E ratio of 7.91, a PEG ratio of 0.67 and a beta of 1.42. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating 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 forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has approved a share buyback program on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be given a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s payout ratio is 7.80%.

Wall Street Analysts Forecast Growth

GM has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and boosted their target price for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Mizuho boosted their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, UBS Group reissued a “buy” 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 issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.89.

General Motors 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.