Federated Hermes Inc. Raises Position in General Motors (NYSE:GM)

Federated Hermes Inc. grew its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 90.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 643,349 shares of the auto manufacturer’s stock after acquiring an additional 305,793 shares during the period. Federated Hermes Inc. owned about 0.06% of General Motors worth $34,271,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GM. Orion Portfolio Solutions LLC increased its stake in shares of General Motors by 6.7% in the 3rd 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 in the last quarter. MML Investors Services LLC increased its stake in shares of General Motors by 3.0% during the third 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 in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of 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 worth $19,611,000 after purchasing an additional 65,971 shares in the last quarter. LRI Investments LLC grew its stake in shares of General Motors by 336.9% in 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 last quarter. Finally, Continuum Advisory LLC increased its position in General Motors by 7.9% during the 3rd 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. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 1.4 %

Shares of NYSE:GM opened at $43.55 on Tuesday. The stock has a 50 day moving average of $47.99 and a 200 day moving average of $50.55. The company has a market cap of $43.33 billion, a PE ratio of 7.08, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced 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 net margin of 3.21% and a return on equity of 15.29%. As a group, equities research analysts expect that General Motors will post 11.44 EPS for the current year.

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

General Motors Announces Dividend

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

Insider Activity at General Motors

In related 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, with a total value of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group restated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Sanford C. Bernstein cut shares of General Motors from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $50.00 to $35.00 in a report on Monday. The Goldman Sachs Group set a $73.00 price target on shares of General Motors in a report on Saturday, March 1st. HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a report on Wednesday, December 11th. Finally, Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $61.00.

About General Motors

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.