Harvest Fund Management Co. Ltd Raises Stake in General Motors (NYSE:GM)

Harvest Fund Management Co. Ltd raised its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4,322.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,766 shares of the auto manufacturer’s stock after buying an additional 6,613 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in General Motors were worth $243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacifica Partners Inc. grew its stake in General Motors by 10.1% during the fourth quarter. Pacifica Partners Inc. now owns 3,288 shares of the auto manufacturer’s stock valued at $107,000 after acquiring an additional 301 shares in the last quarter. RWA Wealth Partners LLC raised its position in shares of General Motors by 5.0% in the fourth quarter. RWA Wealth Partners LLC now owns 6,740 shares of the auto manufacturer’s stock worth $242,000 after buying an additional 319 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in General Motors by 6.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,481 shares of the auto manufacturer’s stock valued at $233,000 after buying an additional 404 shares during the period. CX Institutional grew its position in General Motors by 4.2% during the third quarter. CX Institutional now owns 10,675 shares of the auto manufacturer’s stock worth $352,000 after buying an additional 431 shares in the last quarter. Finally, Graypoint LLC increased its stake in General Motors by 2.8% in the 4th quarter. Graypoint LLC now owns 16,397 shares of the auto manufacturer’s stock worth $589,000 after acquiring an additional 447 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GM has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Wednesday. Redburn Atlantic assumed coverage on shares of General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price target on the stock. Piper Sandler lifted their price objective on shares of General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday. Mizuho increased their price objective on General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.38.

Insider Buying and Selling

In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the transaction, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $860,710.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Gerald Johnson sold 15,190 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.03, for a total transaction of $608,055.70. Following the completion of the transaction, the executive vice president now owns 98,628 shares of the company’s stock, valued at approximately $3,948,078.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares in the company, valued at $860,710.14. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 over the last ninety days. Company insiders own 0.54% of the company’s stock.

General Motors Stock Down 0.2 %

Shares of General Motors stock opened at $45.00 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04. The company has a market cap of $51.95 billion, a P/E ratio of 5.51, a PEG ratio of 0.53 and a beta of 1.51. The company’s fifty day simple moving average is $42.00 and its two-hundred day simple moving average is $36.12.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same quarter in the previous year, the company earned $2.21 earnings per share. General Motors’s quarterly revenue was up 7.6% on a year-over-year basis. Research analysts anticipate that General Motors will post 9.26 EPS for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s payout ratio is presently 5.87%.

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.