HighTower Advisors LLC Buys 18,449 Shares of General Motors (NYSE:GM)

HighTower Advisors LLC lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,044,889 shares of the auto manufacturer’s stock after purchasing an additional 18,449 shares during the quarter. HighTower Advisors LLC’s holdings in General Motors were worth $162,201,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on GM shares. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and boosted their price target for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. The Goldman Sachs Group set a $73.00 price objective on General Motors in a report on Saturday, March 1st. UBS Group reaffirmed a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Finally, TD Cowen initiated coverage on General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.89.

General Motors Trading Up 0.5 %

Shares of GM stock opened at $48.32 on Wednesday. The firm has a market capitalization of $48.08 billion, a P/E ratio of 7.86, a P/E/G ratio of 0.67 and a beta of 1.42. General Motors has a twelve month low of $38.94 and a twelve month high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The stock’s fifty day simple moving average is $49.49 and its 200 day simple moving average is $50.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping 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%. As a group, sell-side analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its board has approved a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management 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 given a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

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.