Daiwa Securities Group Inc. Increases Stock Position in General Motors (NYSE:GM)

Daiwa Securities Group Inc. lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,050 shares of the auto manufacturer’s stock after buying an additional 9,606 shares during the quarter. Daiwa Securities Group Inc.’s holdings in General Motors were worth $5,892,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Cerity Partners LLC raised its stake in General Motors by 361.1% during the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after buying an additional 93,754 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in General Motors by 10.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock worth $4,859,000 after purchasing an additional 14,002 shares in the last quarter. Foundry Partners LLC grew its position in General Motors by 15.0% during the 3rd quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock valued at $12,992,000 after purchasing an additional 51,336 shares during the last quarter. AM Squared Ltd increased its stake in General Motors by 195.0% during the 4th quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock valued at $1,483,000 after purchasing an additional 27,300 shares in the last quarter. Finally, Strs Ohio raised its holdings in General Motors by 7.7% in the fourth quarter. Strs Ohio now owns 1,532,997 shares of the auto manufacturer’s stock worth $55,065,000 after buying an additional 109,760 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Down 0.2 %

GM opened at $42.38 on Friday. The firm’s 50 day simple moving average is $41.65 and its two-hundred day simple moving average is $35.80. The company has a market capitalization of $48.92 billion, a PE ratio of 5.80, a PEG ratio of 0.51 and a beta of 1.51. General Motors has a 1-year low of $26.30 and a 1-year high of $46.04. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The company had revenue of $42.98 billion for the quarter, compared to analysts’ expectations of $38.81 billion. During the same period last year, the firm earned $2.12 EPS. General Motors’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts forecast that General Motors will post 9.12 EPS for the current year.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, February 29th. This is an increase from General Motors’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.13%. General Motors’s payout ratio is 6.57%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GM. Piper Sandler began coverage on shares of General Motors in a research report on Friday, March 15th. They set a “neutral” rating and a $44.00 price target for the company. Wells Fargo & Company lifted their target price on General Motors from $27.00 to $28.00 and gave the stock an “underweight” rating in a report on Wednesday, January 31st. Mizuho upped their price target on General Motors from $44.00 to $48.00 and gave the company a “buy” rating in a report on Monday, March 25th. Morgan Stanley lifted their price objective on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Finally, Tigress Financial upped their target price on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.57.

Insiders Place Their Bets

In related news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now owns 71,506 shares in the company, valued at approximately $3,236,361.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the transaction, the executive vice president now directly owns 71,506 shares in the company, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,248 shares of company stock worth $3,614,078. Company insiders own 0.54% 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.