Gulf International Bank UK Ltd Cuts Stock Holdings in General Motors (NYSE:GM)

Gulf International Bank UK Ltd lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,392 shares of the auto manufacturer’s stock after selling 1,058 shares during the quarter. Gulf International Bank UK Ltd’s holdings in General Motors were worth $4,708,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Golden State Wealth Management LLC purchased a new stake in General Motors during the fourth quarter worth $25,000. Crews Bank & Trust bought a new position in shares of General Motors in the 4th quarter worth $26,000. Catalyst Capital Advisors LLC purchased a new stake in shares of General Motors during the 3rd quarter worth $27,000. Truvestments Capital LLC bought a new stake in General Motors during the third quarter valued at about $27,000. Finally, Compass Planning Associates Inc bought a new stake in General Motors during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the subject of several analyst reports. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group reaffirmed a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and increased their price objective for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.71.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares in the company, valued at $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 accessible through this link. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Performance

Shares of NYSE GM opened at $47.68 on Friday. The company has a 50 day simple moving average of $50.40 and a two-hundred day simple moving average of $50.31. The stock has a market cap of $47.44 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 0.67 and a beta of 1.40. 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 $38.94 and a 12 month high of $61.24.

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

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

General Motors announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding 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 usually an indication that the company’s management believes its shares are undervalued.

About General Motors

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.