Fmr LLC Has $802.30 Million Position in General Motors (NYSE:GM)

Fmr LLC decreased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 21.9% in the 4th quarter, HoldingsChannel reports. The firm owned 15,060,976 shares of the auto manufacturer’s stock after selling 4,217,131 shares during the period. Fmr LLC’s holdings in General Motors were worth $802,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in GM. Orion Portfolio Solutions LLC boosted its holdings in shares of General Motors by 6.7% during the third quarter. Orion Portfolio Solutions LLC now owns 63,342 shares of the auto manufacturer’s stock worth $2,840,000 after acquiring an additional 3,964 shares during the period. MML Investors Services LLC boosted its stake in General Motors by 3.0% in the 3rd quarter. MML Investors Services LLC now owns 139,000 shares of the auto manufacturer’s stock valued at $6,233,000 after purchasing an additional 4,023 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in General Motors by 17.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 437,352 shares of the auto manufacturer’s stock valued at $19,611,000 after purchasing an additional 65,971 shares during the period. LRI Investments LLC increased its position in General Motors by 336.9% during the 3rd quarter. LRI Investments LLC now owns 14,134 shares of the auto manufacturer’s stock worth $634,000 after buying an additional 10,899 shares during the period. Finally, Continuum Advisory LLC lifted its holdings in shares of General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was acquired 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 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 filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GM has been the topic of several research reports. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. UBS Group reiterated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and boosted their target price for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Cowen began coverage on General Motors in a research note on Thursday, March 6th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. cut their price target on General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.00.

General Motors Trading Down 1.4 %

Shares of GM stock opened at $43.55 on Tuesday. General Motors has a fifty-two week low of $38.96 and a fifty-two 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 stock has a 50 day simple moving average of $47.99 and a two-hundred day simple moving average of $50.55. The company has a market cap of $43.33 billion, a P/E ratio of 7.08, a PEG ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data 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%. Research analysts forecast that General Motors will post 11.44 earnings per share for the current year.

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

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.10%. General Motors’s dividend payout ratio is presently 7.80%.

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.