Fmr LLC Sells 4,217,131 Shares of General Motors (NYSE:GM)

FMR LLC cut its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 21.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 15,060,976 shares of the auto manufacturer's stock after selling 4,217,131 shares during the quarter. FMR LLC owned about 1.51% of General Motors worth $802,298,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of GM. Norges Bank bought a new position in shares of General Motors during the 4th quarter worth approximately $592,321,000. Amundi increased its stake in General Motors by 75.5% in the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock valued at $250,627,000 after buying an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC boosted its stake in shares of General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock worth $394,060,000 after buying an additional 2,104,528 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of General Motors in the 4th quarter valued at about $108,366,000. Finally, National Bank of Canada FI increased its position in shares of General Motors by 54.4% in the fourth quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock valued at $178,593,000 after acquiring an additional 1,180,936 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on GM. Mizuho decreased their price target on General Motors from $63.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday. The Goldman Sachs Group decreased their target price on shares of General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a research note on Thursday. TD Cowen started coverage on shares of General Motors in a research report on Friday, March 7th. They set a "buy" rating and a $105.00 price target on the stock. Cowen assumed coverage on shares of General Motors in a research report on Thursday, March 6th. They issued a "buy" rating for the company. Finally, JPMorgan Chase & Co. dropped their target price 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. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $59.33.

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Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.72% of the company's stock.

General Motors Price Performance

GM traded down $0.08 during trading on Friday, hitting $43.65. 10,731,393 shares of the stock traded hands, compared to its average volume of 13,549,381. The business has a 50 day moving average price of $47.36 and a 200 day moving average price of $50.39. The company has a market cap of $43.43 billion, a price-to-earnings ratio of 7.10, a PEG ratio of 0.67 and a beta of 1.27. General Motors has a twelve month low of $38.96 and a twelve month 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 - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Equities research analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.10%. General Motors's dividend payout ratio (DPR) is presently 7.80%.

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

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.