Invesco Ltd. Sells 655,447 Shares of General Motors (NYSE:GM)

Invesco Ltd. lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,151,935 shares of the auto manufacturer’s stock after selling 655,447 shares during the period. Invesco Ltd. owned 1.32% of General Motors worth $700,604,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of General Motors by 19.7% during the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock worth $488,000 after acquiring an additional 1,510 shares during the period. SYM FINANCIAL Corp bought a new stake in General Motors in the 4th quarter valued at $474,000. Asset Management One Co. Ltd. boosted its stake in General Motors by 9.3% in 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 purchasing an additional 39,474 shares during the period. Avantra Family Wealth Inc. acquired a new position in General Motors in the 4th quarter valued at $1,044,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of General Motors by 10.9% during the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock worth $10,763,000 after buying an additional 19,924 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

GM has been the topic of several research reports. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. The Goldman Sachs Group set a $73.00 target price on shares of General Motors in a research report on Saturday, March 1st. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and raised their target price for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Finally, Cowen started coverage on General Motors in a research note on Thursday, March 6th. They set a “buy” rating on the stock. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.00.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost 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 $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

General Motors Price Performance

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

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results 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%. Research analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were issued 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 (DPR) is currently 7.80%.

General Motors announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.