Ruffer LLP Acquires New Holdings in General Motors (NYSE:GM)

Ruffer LLP purchased a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 60,515 shares of the auto manufacturer’s stock, valued at approximately $3,224,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GM. Golden State Wealth Management LLC bought a new position in General Motors during the 4th quarter worth $25,000. Crews Bank & Trust acquired a new stake in General Motors during the 4th quarter worth about $26,000. Compass Planning Associates Inc bought a new position in shares of General Motors in the 4th quarter worth about $27,000. Duncker Streett & Co. Inc. lifted its stake in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 498 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of General Motors during the 4th quarter valued at about $28,000. 92.67% of the stock is currently owned by institutional investors.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors 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 of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

General Motors Price Performance

Shares of NYSE:GM opened at $47.39 on Friday. The firm’s 50 day simple moving average is $49.70 and its two-hundred day simple moving average is $50.47. 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 company has a market capitalization of $47.16 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.67 and a beta of 1.42. General Motors has a 1-year low of $38.94 and a 1-year 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 analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Research analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

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

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders 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 dividend yield of 1.01%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is currently 7.80%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GM. HSBC lowered 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. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. UBS Group reiterated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. TD Cowen started coverage on General Motors in a research note on Friday. They set a “buy” rating and a $105.00 price target on the stock. Finally, Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.22.

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.