Korea Investment CORP Acquires 150,536 Shares of General Motors (NYSE:GM)

Korea Investment CORP lifted its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 15.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,148,058 shares of the auto manufacturer's stock after purchasing an additional 150,536 shares during the period. Korea Investment CORP owned 0.12% of General Motors worth $61,157,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GM. Golden State Wealth Management LLC acquired a new stake in shares of General Motors in the 4th quarter valued at about $25,000. Crews Bank & Trust acquired a new stake in General Motors in the fourth quarter valued at approximately $26,000. Truvestments Capital LLC bought a new stake in shares of General Motors during the third quarter valued at approximately $27,000. Compass Planning Associates Inc acquired a new position in shares of General Motors during the fourth quarter worth approximately $27,000. Finally, Duncker Streett & Co. Inc. grew its position in General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after purchasing an additional 498 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GM. Wells Fargo & Company reiterated an "underweight" rating on shares of General Motors in a report on Monday, February 3rd. TD Cowen began coverage on General Motors in a report on Friday, March 7th. They set a "buy" rating and a $105.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Hsbc Global Res downgraded General Motors from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. Finally, UBS Group restated a "buy" rating on shares of General Motors in a research note on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $62.11.

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General Motors Stock Performance

Shares of NYSE GM traded up $0.32 during mid-day trading on Tuesday, hitting $47.35. The company had a trading volume of 2,273,928 shares, compared to its average volume of 13,526,723. 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 1 year low of $38.96 and a 1 year high of $61.24. The company has a market capitalization of $47.11 billion, a price-to-earnings ratio of 7.70, a P/E/G ratio of 0.67 and a beta of 1.42. The stock's 50-day moving average price is $48.81 and its 200-day moving average price is $50.61.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced 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 return on equity of 15.29% and a net margin of 3.21%. On average, sell-side analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. General Motors's dividend payout ratio (DPR) is presently 7.80%.

General Motors declared that its board has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company's stock in a transaction on Thursday, January 30th. The stock was acquired 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 directly owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is owned by corporate insiders.

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.