HighTower Advisors LLC Has $162.20 Million Stake in General Motors (NYSE:GM)

HighTower Advisors LLC lifted its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,044,889 shares of the auto manufacturer's stock after purchasing an additional 18,449 shares during the quarter. HighTower Advisors LLC owned 0.31% of General Motors worth $162,201,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Trust Point Inc. raised its stake in General Motors by 2.7% during the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock worth $386,000 after acquiring an additional 193 shares in the last quarter. Avestar Capital LLC raised its stake in General Motors by 2.3% during the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer's stock worth $430,000 after acquiring an additional 213 shares in the last quarter. Continuum Advisory LLC raised its stake in General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer's stock worth $131,000 after acquiring an additional 213 shares in the last quarter. Holistic Planning LLC raised its stake in General Motors by 3.9% during 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. Finally, Norden Group LLC raised its stake in General Motors by 3.0% during the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer's stock worth $421,000 after acquiring an additional 229 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Up 0.5 %

NYSE GM opened at $48.32 on Wednesday. The firm has a market cap of $48.08 billion, a P/E ratio of 7.86, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock's 50-day moving average is $49.49 and its 200-day moving average is $50.51. General Motors has a one year low of $38.94 and a one year high of $61.24.

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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 earnings per share (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%. Sell-side analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, March 7th. General Motors's dividend payout ratio is presently 7.80%.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on GM shares. Mizuho increased their price objective on General Motors from $59.00 to $62.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Wells Fargo & Company restated an "underweight" rating on shares of General Motors in a report on Monday, February 3rd. Cowen began coverage on General Motors in a report on Thursday, March 6th. They set a "buy" rating on the stock. Morgan Stanley upgraded General Motors from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Finally, Hsbc Global Res cut General Motors from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $62.89.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by insiders.

General Motors Company 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.

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