Intech Investment Management LLC Has $52.44 Million Stake in General Motors (NYSE:GM)

Intech Investment Management LLC increased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 984,426 shares of the auto manufacturer’s stock after acquiring an additional 105,761 shares during the period. General Motors accounts for approximately 1.6% of Intech Investment Management LLC’s portfolio, making the stock its 16th biggest position. Intech Investment Management LLC’s holdings in General Motors were worth $52,440,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GM. CIBC Asset Management Inc lifted its stake in General Motors by 8.0% in the third quarter. CIBC Asset Management Inc now owns 170,693 shares of the auto manufacturer’s stock valued at $7,654,000 after acquiring an additional 12,649 shares during the last quarter. Atlanta Consulting Group Advisors LLC acquired a new stake in General Motors in the third quarter valued at $267,000. Claro Advisors LLC lifted its stake in General Motors by 18.1% in the third quarter. Claro Advisors LLC now owns 9,631 shares of the auto manufacturer’s stock valued at $432,000 after acquiring an additional 1,478 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in General Motors by 1.0% in the third quarter. Thrivent Financial for Lutherans now owns 52,193 shares of the auto manufacturer’s stock valued at $2,340,000 after acquiring an additional 539 shares during the last quarter. Finally, Quest Partners LLC raised its position in shares of General Motors by 81.0% in the third quarter. Quest Partners LLC now owns 37,516 shares of the auto manufacturer’s stock valued at $1,682,000 after purchasing an additional 16,788 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Up 1.4 %

GM opened at $49.01 on Tuesday. The company’s 50 day moving average is $49.14 and its 200-day moving average is $50.48. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company has a market cap of $48.76 billion, a P/E ratio of 7.97, a PEG ratio of 0.67 and a beta of 1.42.

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

General Motors announced that its board has approved a stock repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 0.98%. General Motors’s dividend payout ratio is presently 7.80%.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GM has been the topic of several research analyst reports. UBS Group reissued a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Mizuho increased their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, 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. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.89.

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.