Gamco Investors INC. ET AL Decreases Stock Position in General Motors (NYSE:GM)

Gamco Investors INC. ET AL trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.9% in the 4th quarter, Holdings Channel reports. The firm owned 48,200 shares of the auto manufacturer’s stock after selling 3,565 shares during the period. Gamco Investors INC. ET AL’s holdings in General Motors were worth $2,568,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Adams Wealth Management purchased a new position in General Motors in the 4th quarter worth approximately $2,843,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $1,169,000. Belpointe Asset Management LLC lifted its position in General Motors by 10.2% during the fourth quarter. Belpointe Asset Management LLC now owns 35,428 shares of the auto manufacturer’s stock worth $1,764,000 after buying an additional 3,282 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in General Motors by 46.8% during the fourth quarter. CreativeOne Wealth LLC now owns 12,735 shares of the auto manufacturer’s stock worth $678,000 after buying an additional 4,062 shares during the last quarter. Finally, Cohen & Steers Inc. grew its holdings in General Motors by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 6,837 shares of the auto manufacturer’s stock valued at $364,000 after buying an additional 345 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group reissued a “neutral” rating and set a $51.00 price target (down previously from $64.00) on shares of General Motors in a research report on Thursday, April 10th. Piper Sandler increased their price objective on General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. TD Cowen initiated coverage on General Motors in a research report on Friday, March 7th. They issued a “buy” rating and a $105.00 target price on the stock. JPMorgan Chase & Co. lowered 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. Finally, Cowen assumed coverage on shares of General Motors in a research report on Thursday, March 6th. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus price target of $56.72.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was 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. The trade was a 700.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.72% of the company’s stock.

General Motors Trading Up 0.7 %

NYSE:GM opened at $44.55 on Friday. The stock has a fifty day moving average price of $47.14 and a 200 day moving average price of $50.29. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The firm has a market cap of $44.32 billion, a PE ratio of 7.24, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating 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 anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Friday, March 7th. General Motors’s dividend payout ratio is presently 7.80%.

General Motors declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.