Millstone Evans Group LLC Buys Shares of 1,982 General Motors (NYSE:GM)

Millstone Evans Group LLC purchased a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,982 shares of the auto manufacturer’s stock, valued at approximately $106,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GM. Golden State Wealth Management LLC bought a new position in shares of General Motors during the 4th quarter valued at $25,000. Crews Bank & Trust bought a new position in shares of General Motors during the 4th quarter valued at $26,000. Truvestments Capital LLC bought a new position in shares of General Motors during the 3rd quarter valued at $27,000. Compass Planning Associates Inc bought a new position in shares of General Motors during the 4th quarter valued at $27,000. Finally, Duncker Streett & Co. Inc. raised its holdings 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 valued at $27,000 after purchasing an additional 498 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the topic of a number of recent research reports. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Cowen started coverage on shares of General Motors in a report on Thursday, March 6th. They issued a “buy” rating on the stock. UBS Group reiterated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Piper Sandler lifted their target price on shares of General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.06.

General Motors Price Performance

Shares of General Motors stock opened at $49.77 on Friday. 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 firm’s 50-day simple moving average is $49.02 and its 200-day simple moving average is $50.47. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The firm has a market cap of $49.53 billion, a P/E ratio of 8.09, 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 earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, research analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

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

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. General Motors’s dividend payout ratio (DPR) is presently 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.