Zurcher Kantonalbank Zurich Cantonalbank Grows Position in General Motors (NYSE:GM)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 260,565 shares of the auto manufacturer’s stock after buying an additional 24,398 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in General Motors were worth $13,880,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GM. Trust Point Inc. grew its stake in shares of General Motors by 2.7% in the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock valued at $386,000 after purchasing an additional 193 shares during the last quarter. Avestar Capital LLC boosted its stake in shares of General Motors by 2.3% in the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after buying an additional 213 shares in the last quarter. Continuum Advisory LLC boosted its stake in shares of General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock valued at $131,000 after buying an additional 213 shares in the last quarter. Holistic Planning LLC boosted its stake in shares of General Motors by 3.9% in the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock valued at $307,000 after buying an additional 214 shares in the last quarter. Finally, Norden Group LLC boosted its stake in shares of General Motors by 3.0% in the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock valued at $421,000 after buying an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

General Motors Price Performance

Shares of NYSE:GM opened at $47.92 on Thursday. The company has a market cap of $47.68 billion, a P/E ratio of 7.79, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a 52 week low of $38.94 and a 52 week high of $61.24. The business has a fifty day simple moving average of $49.38 and a 200-day simple moving average of $50.49.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data 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 return on equity of 15.29% and a net margin of 3.21%. Equities research analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors announced that its board has initiated a share buyback plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

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

Analysts Set New Price Targets

GM has been the topic of a number of analyst reports. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, December 11th. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and lifted their price target for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, TD Cowen began coverage on General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 price objective for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company 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.