Parallel Advisors LLC Raises Stock Position in General Motors (NYSE:GM)

Parallel Advisors LLC lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 51.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 26,589 shares of the auto manufacturer’s stock after acquiring an additional 8,990 shares during the period. Parallel Advisors LLC’s holdings in General Motors were worth $1,416,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in shares of General Motors in the 4th quarter worth about $25,000. Crews Bank & Trust bought a new stake in shares of General Motors in the 4th quarter worth about $26,000. Truvestments Capital LLC bought a new stake in General Motors during the 3rd quarter valued at about $27,000. Compass Planning Associates Inc bought a new stake in General Motors during the 4th quarter valued at about $27,000. Finally, Duncker Streett & Co. Inc. lifted its holdings in 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 buying an additional 498 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

GM opened at $48.62 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The company has a market cap of $48.38 billion, a price-to-earnings 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 firm’s fifty day simple moving average is $49.07 and its two-hundred day simple moving average is $50.47.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its 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 anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has approved a stock buyback plan 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 plans are usually an indication that the company’s board believes its stock is undervalued.

General Motors Announces Dividend

The company 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 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is currently 7.80%.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s 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 transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and lifted their price objective for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Mizuho lifted their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Cowen began coverage on shares of General Motors in a report on Thursday, March 6th. They set a “buy” rating for the company. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Finally, TD Cowen began coverage on shares of General Motors in a research report on Friday, March 7th. They issued a “buy” rating and a $105.00 price target for the company. 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 data from MarketBeat, General Motors currently has a consensus rating of “Hold” and a consensus target price of $62.89.

General Motors Company 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.