Parametrica Management Ltd Invests $1.34 Million in General Motors (NYSE:GM)

Parametrica Management Ltd purchased a new position in General Motors (NYSE:GM - Free Report) TSE: GMM.U in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,219 shares of the auto manufacturer's stock, valued at approximately $1,343,000. General Motors makes up approximately 1.8% of Parametrica Management Ltd's portfolio, making the stock its 15th biggest holding.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in General Motors by 19.7% in the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer's stock worth $488,000 after purchasing an additional 1,510 shares during the period. SYM FINANCIAL Corp bought a new stake in shares of General Motors in the fourth quarter valued at about $474,000. Asset Management One Co. Ltd. boosted its position in shares of General Motors by 9.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer's stock worth $25,178,000 after buying an additional 39,474 shares during the period. Avantra Family Wealth Inc. bought a new position in shares of General Motors during the fourth quarter worth about $1,044,000. Finally, Handelsbanken Fonder AB grew 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.

Remove Ads

Analysts Set New Price Targets

GM has been the subject of a number of recent research reports. Cowen started coverage on General Motors in a research report on Thursday, March 6th. They set a "buy" rating for the company. Piper Sandler boosted their price objective on shares of General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. UBS Group reaffirmed a "buy" rating on shares of General Motors in a research report on Monday, February 3rd. Hsbc Global Res cut shares of General Motors from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. decreased their price objective on General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, General Motors currently has an average rating of "Hold" and a consensus target price of $62.11.

General Motors Stock Performance

Shares of NYSE:GM traded down $0.55 on Friday, hitting $46.65. The company had a trading volume of 18,815,180 shares, compared to its average volume of 13,329,089. The stock has a 50 day moving average price of $48.89 and a 200 day moving average price of $50.56. 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 stock has a market cap of $46.42 billion, a price-to-earnings ratio of 7.59, a P/E/G ratio of 0.67 and a beta of 1.42. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. 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 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 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, March 7th. General Motors's dividend payout ratio is currently 7.80%.

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

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company's stock in a transaction dated Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, for a total transaction 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. This represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.72% of the stock is currently owned by company 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.