General Motors (NYSE:GM) Holdings Boosted by Korea Investment CORP

Korea Investment CORP grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,148,058 shares of the auto manufacturer’s stock after purchasing an additional 150,536 shares during the quarter. Korea Investment CORP owned approximately 0.12% of General Motors worth $61,157,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GM. Golden State Wealth Management LLC bought a new stake in General Motors in the 4th quarter valued at about $25,000. Crews Bank & Trust bought a new stake in shares of General Motors during the fourth quarter valued at approximately $26,000. Compass Planning Associates Inc acquired a new position in shares of General Motors during the fourth quarter worth approximately $27,000. Whittier Trust Co. grew its holdings in General Motors by 551.9% in the 4th 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. Finally, Duncker Streett & Co. Inc. increased its position in 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 acquiring an additional 498 shares during the period. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GM shares. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Piper Sandler increased their price objective on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, Cowen initiated coverage on General Motors in a report on Thursday, March 6th. They issued a “buy” rating for the company. 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’s stock. According to MarketBeat.com, General Motors currently has a consensus rating of “Hold” and a consensus target price of $62.11.

General Motors Price Performance

Shares of General Motors stock opened at $47.24 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The firm has a fifty day simple moving average of $48.97 and a 200-day simple moving average of $50.53. The stock has a market capitalization of $47.00 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 0.67 and a beta of 1.42. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its 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 net margin of 3.21% and a return on equity of 15.29%. On average, sell-side analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

General Motors declared that its board has initiated a stock buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.72% of the company’s stock.

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.