Mountain Hill Investment Partners Corp. Takes $5.76 Million Position in General Motors (NYSE:GM)

Mountain Hill Investment Partners Corp. bought a new stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 108,111 shares of the auto manufacturer's stock, valued at approximately $5,759,000. General Motors makes up approximately 5.9% of Mountain Hill Investment Partners Corp.'s holdings, making the stock its 6th largest holding.

Other hedge funds have also recently bought and sold shares of the company. LPL Financial LLC raised its position in shares of General Motors by 8.5% during the 4th quarter. LPL Financial LLC now owns 640,491 shares of the auto manufacturer's stock worth $34,119,000 after purchasing an additional 50,031 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of General Motors in the fourth quarter valued at $28,298,000. Knights of Columbus Asset Advisors LLC boosted its stake in shares of General Motors by 1.9% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 189,240 shares of the auto manufacturer's stock worth $10,081,000 after purchasing an additional 3,579 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in shares of General Motors by 4.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 16,750 shares of the auto manufacturer's stock valued at $892,000 after buying an additional 700 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new position in General Motors in the 4th quarter valued at $46,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on GM. HSBC lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $58.00 price target on the stock. in a report on Wednesday, December 11th. The Goldman Sachs Group set a $73.00 target price on General Motors in a report on Saturday, March 1st. TD Cowen initiated coverage on shares of General Motors in a report on Friday, March 7th. They issued a "buy" rating and a $105.00 price target on the stock. Wells Fargo & Company reiterated an "underweight" rating on shares of General Motors in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their price target on General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $62.11.

General Motors Stock Performance

Shares of General Motors stock traded down $0.55 during trading hours on Friday, reaching $46.65. The company's stock had a trading volume of 18,815,180 shares, compared to its average volume of 13,329,089. General Motors has a one year low of $38.96 and a one year high of $61.24. The company's 50 day simple moving average is $48.89 and its 200 day simple moving average is $50.53. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a market cap of $46.42 billion, a P/E ratio of 7.59, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its board has approved a share buyback 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 buy 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 given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, March 7th. General Motors's dividend payout ratio is currently 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.