Intech Investment Management LLC Acquires 105,761 Shares of General Motors (NYSE:GM)

Intech Investment Management LLC raised its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 12.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 984,426 shares of the auto manufacturer's stock after acquiring an additional 105,761 shares during the quarter. General Motors makes up approximately 1.6% of Intech Investment Management LLC's holdings, making the stock its 16th biggest position. Intech Investment Management LLC owned approximately 0.10% of General Motors worth $52,440,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GM. Golden State Wealth Management LLC bought a new stake in shares of General Motors during the 4th quarter worth approximately $25,000. Crews Bank & Trust acquired a new stake in General Motors in the fourth quarter valued at $26,000. Truvestments Capital LLC acquired a new stake in General Motors in the third quarter valued at $27,000. Compass Planning Associates Inc acquired a new stake in General Motors in the fourth quarter valued at $27,000. Finally, Duncker Streett & Co. Inc. lifted its stake 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 acquiring an additional 498 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.72% of the company's stock.

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General Motors Stock Performance

NYSE:GM traded up $0.33 during mid-day trading on Friday, reaching $49.77. 37,623,460 shares of the company's stock were exchanged, compared to its average volume of 12,866,566. General Motors has a one year low of $38.96 and a one year high of $61.24. The firm has a market capitalization of $49.53 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The business's fifty day simple moving average is $49.02 and its two-hundred day simple moving average is $50.46. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

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 (EPS) for the quarter, topping 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%. Analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its board has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

General Motors Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.96%. General Motors's payout ratio is 7.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GM. HSBC cut shares of General Motors from a "buy" rating to a "hold" rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. TD Cowen began coverage on shares of General Motors in a research note on Friday, March 7th. They issued a "buy" rating and a $105.00 price target for the company. Hsbc Global Res cut shares of General Motors from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Morgan Stanley upgraded shares of General Motors from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Finally, StockNews.com lowered shares of General Motors from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $63.06.

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.