General Motors (NYSE:GM) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. boosted its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 90.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 643,349 shares of the auto manufacturer's stock after purchasing an additional 305,793 shares during the quarter. Federated Hermes Inc. owned about 0.06% of General Motors worth $34,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Trust Point Inc. lifted its holdings in shares of General Motors by 2.7% during the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock valued at $386,000 after purchasing an additional 193 shares during the last quarter. Continuum Advisory LLC raised its stake in General Motors by 7.9% in the third 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 during the last quarter. Holistic Planning LLC boosted its holdings in General Motors by 3.9% in the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer's stock worth $307,000 after acquiring an additional 214 shares in the last quarter. Nemes Rush Group LLC grew its stake in shares of General Motors by 18.7% during the fourth quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock worth $73,000 after acquiring an additional 217 shares during the last quarter. Finally, Norden Group LLC raised its position in shares of General Motors by 3.0% in the 4th quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer's stock valued at $421,000 after purchasing an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com cut shares of General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. The Goldman Sachs Group reduced their price objective on General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a research note on Thursday. Piper Sandler upped their target price on General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. cut their price target on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, UBS Group restated a "neutral" rating and set a $51.00 price objective (down from $64.00) on shares of General Motors in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, General Motors currently has a consensus rating of "Hold" and a consensus price target of $59.33.

General Motors Price Performance

GM traded down $0.08 during midday trading on Friday, hitting $43.65. 10,731,393 shares of the company traded hands, compared to its average volume of 13,549,381. 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 has a 52-week low of $38.96 and a 52-week high of $61.24. The company has a market capitalization of $43.43 billion, a price-to-earnings ratio of 7.10, a PEG ratio of 0.67 and a beta of 1.27. The business has a 50 day simple moving average of $47.36 and a two-hundred day simple moving average of $50.39.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its 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%. On average, equities analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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

General Motors declared that its Board of Directors has approved a share buyback program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now directly owns 13,714 shares of the company's stock, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.72% of the company's stock.

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.