Pitcairn Co. Purchases 7,822 Shares of General Motors (NYSE:GM)

Pitcairn Co. raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 106.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,181 shares of the auto manufacturer’s stock after buying an additional 7,822 shares during the quarter. Pitcairn Co.’s holdings in General Motors were worth $809,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GM. World Investment Advisors boosted its position in General Motors by 42.8% during the fourth quarter. World Investment Advisors now owns 7,560 shares of the auto manufacturer’s stock worth $403,000 after purchasing an additional 2,266 shares during the period. OneAscent Financial Services LLC lifted its stake in shares of General Motors by 27.4% during the 4th quarter. OneAscent Financial Services LLC now owns 11,909 shares of the auto manufacturer’s stock valued at $634,000 after buying an additional 2,562 shares in the last quarter. May Hill Capital LLC purchased a new position in General Motors in the 4th quarter valued at approximately $551,000. Geode Capital Management LLC grew its stake in General Motors by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock valued at $1,264,567,000 after buying an additional 176,436 shares in the last quarter. Finally, Nemes Rush Group LLC raised its holdings in General Motors by 18.7% during the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer’s stock valued at $73,000 after acquiring an additional 217 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

General Motors stock opened at $44.22 on Friday. The firm has a fifty day simple moving average of $48.22 and a two-hundred day simple moving average of $50.55. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a market capitalization of $44.00 billion, a PE ratio of 7.19, a P/E/G ratio of 0.67 and a beta of 1.27. 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 (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Research analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.09%. General Motors’s dividend payout ratio is currently 7.80%.

General Motors announced that its board has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. TD Cowen initiated coverage on shares of General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus target price of $62.11.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’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 acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by corporate insiders.

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.