Forum Financial Management LP Grows Position in General Motors (NYSE:GM)

Forum Financial Management LP raised its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 58.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,102 shares of the auto manufacturer's stock after buying an additional 7,389 shares during the period. Forum Financial Management LP's holdings in General Motors were worth $1,071,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Virtu Financial LLC increased its position in General Motors by 770.3% in the third quarter. Virtu Financial LLC now owns 99,054 shares of the auto manufacturer's stock worth $4,442,000 after buying an additional 87,672 shares during the last quarter. Te Ahumairangi Investment Management Ltd raised its stake in General Motors by 6.6% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 100,708 shares of the auto manufacturer's stock valued at $4,490,000 after acquiring an additional 6,200 shares during the period. World Investment Advisors LLC bought a new stake in General Motors in the 3rd quarter valued at about $237,000. Wilmington Savings Fund Society FSB purchased a new stake in General Motors during the third quarter valued at about $1,907,000. Finally, Tidal Investments LLC boosted its position in General Motors by 44.7% during the third quarter. Tidal Investments LLC now owns 65,389 shares of the auto manufacturer's stock worth $2,932,000 after purchasing an additional 20,206 shares during the period. Institutional investors own 92.67% of the company's stock.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors 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 transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GM has been the topic of a number of recent research reports. Sanford C. Bernstein cut shares of General Motors from a "market perform" rating to an "underperform" rating and dropped their price target for the company from $50.00 to $35.00 in a research note on Monday, April 7th. JPMorgan Chase & Co. cut their price target on General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Citigroup assumed coverage on General Motors in a research report on Wednesday. They issued a "buy" rating and a $62.00 price target for the company. 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 on the stock. Finally, Mizuho reduced their target price on General Motors from $63.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $54.83.

General Motors Trading Up 2.3 %

GM traded up $1.06 during trading on Thursday, hitting $46.90. 3,363,914 shares of the stock traded hands, compared to its average volume of 13,892,504. The firm has a 50-day moving average of $46.92 and a 200 day moving average of $50.29. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The firm has a market capitalization of $46.67 billion, a P/E ratio of 7.63, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. 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 posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) 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 anticipate that General Motors will post 11.44 EPS for the current year.

General Motors declared that its Board of Directors has initiated a stock repurchase plan 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 plans are typically a sign that the company's board of directors believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.02%. General Motors's dividend payout ratio is presently 7.80%.

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.