Harbour Investments Inc. Buys 559 Shares of General Motors (NYSE:GM)

Harbour Investments Inc. boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,848 shares of the auto manufacturer’s stock after acquiring an additional 559 shares during the period. Harbour Investments Inc.’s holdings in General Motors were worth $684,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC acquired a new position in shares of General Motors in the 4th quarter valued at approximately $25,000. Crews Bank & Trust acquired a new position in General Motors during the fourth quarter valued at approximately $26,000. Truvestments Capital LLC bought a new stake in General Motors during the third quarter worth $27,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors in the 4th quarter valued at $27,000. Finally, Duncker Streett & Co. Inc. increased its stake in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 498 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GM. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Cowen assumed coverage on shares of General Motors in a report on Thursday, March 6th. They issued a “buy” rating for the company. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Mizuho increased their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, TD Cowen started coverage on shares of General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 target price on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.89.

General Motors Stock Up 2.4 %

Shares of NYSE GM opened at $49.84 on Thursday. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The company’s 50 day moving average price is $49.05 and its 200-day moving average price is $50.47. The company has a market capitalization of $49.59 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS 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%. Equities 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 stock buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 0.96%. General Motors’s dividend payout ratio is currently 7.80%.

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.