Smartleaf Asset Management LLC Increases Stock Position in General Motors (NYSE:GM)

Smartleaf Asset Management LLC grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,659 shares of the auto manufacturer’s stock after buying an additional 290 shares during the quarter. Smartleaf Asset Management LLC’s holdings in General Motors were worth $626,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of General Motors during the 4th quarter valued at $25,000. Crews Bank & Trust acquired a new position in shares of General Motors during the 4th quarter valued at $26,000. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors during the 3rd quarter valued at $27,000. Truvestments Capital LLC acquired a new position in shares of General Motors during the 3rd quarter valued at $27,000. Finally, Compass Planning Associates Inc acquired a new position in shares of General Motors during the 4th quarter valued at $27,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

General Motors Price Performance

Shares of NYSE:GM opened at $47.37 on Tuesday. 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 has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. The firm has a 50-day simple moving average of $50.24 and a 200 day simple moving average of $50.47. The company has a market cap of $47.13 billion, a PE ratio of 7.70, a P/E/G ratio of 0.67 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. On average, sell-side analysts anticipate that General Motors will post 11.44 EPS for the current year.

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

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is presently 7.80%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GM shares. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and lifted their target price for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Morgan Stanley upgraded shares of 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 report on Tuesday, December 10th. Finally, HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, General Motors has an average rating of “Hold” and an average target price of $59.71.

About General Motors

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.