Tredje AP fonden Grows Position in General Motors (NYSE:GM)

Tredje AP fonden grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 168.4% during the 4th quarter, HoldingsChannel reports. The firm owned 1,046,700 shares of the auto manufacturer’s stock after buying an additional 656,700 shares during the quarter. Tredje AP fonden’s holdings in General Motors were worth $55,758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of GM. Blue Trust Inc. lifted its position in shares of General Motors by 19.7% during the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after buying an additional 1,510 shares in the last quarter. SYM FINANCIAL Corp purchased a new position in shares of General Motors during the 4th quarter valued at approximately $474,000. Asset Management One Co. Ltd. lifted its position in shares of General Motors by 9.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after buying an additional 39,474 shares in the last quarter. Avantra Family Wealth Inc. purchased a new position in shares of General Motors during the 4th quarter valued at approximately $1,044,000. Finally, Handelsbanken Fonder AB lifted its position in shares of General Motors by 10.9% during the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock valued at $10,763,000 after buying an additional 19,924 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group reiterated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. The Goldman Sachs Group set a $73.00 price objective on General Motors in a report on Saturday, March 1st. Finally, Cowen began coverage on General Motors in a report on Thursday, March 6th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $62.89.

General Motors Stock Down 0.8 %

Shares of NYSE:GM opened at $47.92 on Thursday. The business has a 50-day moving average price of $49.38 and a 200 day moving average price of $50.49. 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 company has a market capitalization of $47.68 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.67 and a beta of 1.42. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Sell-side analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

General Motors declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now directly owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

General Motors 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.