Mountain Hill Investment Partners Corp. Takes $5.76 Million Position in General Motors (NYSE:GM)

Mountain Hill Investment Partners Corp. acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 108,111 shares of the auto manufacturer’s stock, valued at approximately $5,759,000. General Motors makes up about 5.9% of Mountain Hill Investment Partners Corp.’s investment portfolio, making the stock its 6th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its stake in shares of General Motors by 1.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 52,193 shares of the auto manufacturer’s stock worth $2,340,000 after purchasing an additional 539 shares in the last quarter. Commerce Bank increased its holdings in General Motors by 7.7% in the third quarter. Commerce Bank now owns 41,143 shares of the auto manufacturer’s stock worth $1,845,000 after buying an additional 2,954 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in General Motors by 54.1% in the third quarter. Advisors Asset Management Inc. now owns 7,075 shares of the auto manufacturer’s stock valued at $317,000 after acquiring an additional 2,484 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in General Motors in the third quarter valued at approximately $1,998,000. Finally, Nwam LLC bought a new stake in General Motors in the third quarter worth approximately $247,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GM. UBS Group reaffirmed a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. The Goldman Sachs Group set a $73.00 price target on General Motors in a research note on Saturday, March 1st. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. TD Cowen started coverage on General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 target price for the company. Finally, Cowen initiated coverage on shares of General Motors in a research report on Thursday, March 6th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.06.

General Motors Trading Up 0.7 %

General Motors stock opened at $49.77 on Monday. The business has a 50 day moving average price of $49.02 and a two-hundred day moving average price of $50.49. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The stock has a market cap of $49.53 billion, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping the consensus estimate 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, equities analysts forecast that General Motors will post 11.44 EPS for the current year.

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

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.96%. The ex-dividend date was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

General Motors Company 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.