Ring Mountain Capital LLC Purchases New Position in General Motors (NYSE:GM)

Ring Mountain Capital LLC purchased a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,148 shares of the auto manufacturer’s stock, valued at approximately $1,393,000. General Motors makes up about 0.9% of Ring Mountain Capital LLC’s portfolio, making the stock its 24th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in GM. Trust Point Inc. grew its position in General Motors by 2.7% in the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after purchasing an additional 193 shares during the period. Avestar Capital LLC grew its position in General Motors by 2.3% in the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after purchasing an additional 213 shares during the period. Continuum Advisory LLC grew its position in General Motors by 7.9% in the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after purchasing an additional 213 shares during the period. Holistic Planning LLC grew its position in General Motors by 3.9% in the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after purchasing an additional 214 shares during the period. Finally, Norden Group LLC grew its position in General Motors by 3.0% in the 4th quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock worth $421,000 after purchasing an additional 229 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.72% of the stock is currently owned by insiders.

General Motors Stock Down 3.6 %

GM opened at $47.37 on Tuesday. 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 $47.13 billion, a price-to-earnings ratio of 7.70, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. The firm’s fifty day moving average is $50.24 and its 200 day moving average is $50.47. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) 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%. On average, sell-side analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its board has authorized a share repurchase program 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

General Motors Dividend Announcement

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

Analyst Upgrades and Downgrades

GM has been the subject of a number of research analyst reports. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and lifted their price target for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, December 11th. UBS Group reiterated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.71.

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.