DnB Asset Management AS Raises Stake in General Motors (NYSE:GM)

DnB Asset Management AS raised its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 47.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 278,639 shares of the auto manufacturer's stock after purchasing an additional 89,936 shares during the quarter. DnB Asset Management AS's holdings in General Motors were worth $14,843,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GM. Golden State Wealth Management LLC purchased a new position in General Motors in the fourth quarter worth approximately $25,000. Crews Bank & Trust purchased a new position in shares of General Motors during the 4th quarter worth $26,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors during the 4th quarter worth about $27,000. Whittier Trust Co. raised its holdings in General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 425 shares during the period. Finally, Duncker Streett & Co. Inc. lifted its position in General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 498 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Stock Performance

NYSE GM traded up $0.91 on Wednesday, reaching $48.17. The stock had a trading volume of 5,777,297 shares, compared to its average volume of 13,322,896. The stock has a market cap of $47.93 billion, a P/E ratio of 7.83, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The business's 50-day moving average price is $48.68 and its 200 day moving average price is $50.62. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

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General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted 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 net margin of 3.21% and a return on equity of 15.29%. As a group, equities analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has authorized a share buyback plan 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 plans are often a sign that the company's management believes its shares are undervalued.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were issued 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 was Friday, March 7th. General Motors's payout ratio is currently 7.80%.

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GM shares. Mizuho boosted their price target on shares of General Motors from $59.00 to $62.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. HSBC cut 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. StockNews.com downgraded General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Cowen began coverage on General Motors in a research note on Thursday, March 6th. They set a "buy" rating on the stock. Finally, UBS Group reaffirmed a "buy" rating on shares of General Motors in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $62.11.

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.