Geode Capital Management LLC Has $1.26 Billion Stock Holdings in General Motors (NYSE:GM)

Geode Capital Management LLC boosted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 23,796,969 shares of the auto manufacturer’s stock after purchasing an additional 176,436 shares during the quarter. Geode Capital Management LLC’s holdings in General Motors were worth $1,264,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its holdings in shares of General Motors by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in General Motors by 6.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after acquiring an additional 989,750 shares during the period. Norges Bank acquired a new position in General Motors in the 4th quarter valued at approximately $592,321,000. ACR Alpine Capital Research LLC lifted its position in shares of General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after acquiring an additional 2,104,528 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of General Motors by 6.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock worth $259,988,000 after purchasing an additional 358,507 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

General Motors Price Performance

Shares of GM stock opened at $47.18 on Wednesday. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The firm’s 50 day moving average is $48.68 and its 200-day moving average is $50.62. The firm has a market capitalization of $46.94 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data 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%. Sell-side analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

General Motors Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on GM shares. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a report on Wednesday, December 11th. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and raised their price target for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Finally, Mizuho upped their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.