NEOS Investment Management LLC Purchases 19,911 Shares of General Motors (NYSE:GM)

NEOS Investment Management LLC grew its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 31.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,006 shares of the auto manufacturer's stock after purchasing an additional 19,911 shares during the quarter. NEOS Investment Management LLC's holdings in General Motors were worth $4,422,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GM. Blue Trust Inc. boosted its stake in General Motors by 19.7% during the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer's stock valued at $488,000 after purchasing an additional 1,510 shares during the period. SYM FINANCIAL Corp bought a new position in General Motors in the 4th quarter worth approximately $474,000. Asset Management One Co. Ltd. increased its position in General Motors by 9.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer's stock valued at $25,178,000 after acquiring an additional 39,474 shares during the period. Avantra Family Wealth Inc. bought a new stake in General Motors during the 4th quarter valued at $1,044,000. Finally, Handelsbanken Fonder AB boosted its position in General Motors by 10.9% during the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer's stock worth $10,763,000 after acquiring an additional 19,924 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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General Motors Stock Up 1.2 %

NYSE:GM traded up $0.57 during mid-day trading on Tuesday, reaching $47.60. The stock had a trading volume of 2,605,608 shares, compared to its average volume of 13,300,067. 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 has a market cap of $47.36 billion, a P/E ratio of 7.71, a PEG ratio of 0.67 and a beta of 1.42. The business's 50 day moving average is $48.81 and its 200 day moving average is $50.61. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24.

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 earnings per share for the quarter, beating 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%. As a group, sell-side analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

General Motors Dividend Announcement

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

Insider Activity

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were acquired 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 of the company's stock, valued at $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GM has been the topic of a number of research analyst reports. StockNews.com lowered General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. TD Cowen started coverage on shares of General Motors in a research note on Friday, March 7th. They set a "buy" rating and a $105.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Morgan Stanley raised General Motors from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company restated an "underweight" rating on shares of General Motors in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $62.11.

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.