Keystone Investors PTE Ltd. Purchases New Stake in General Motors (NYSE:GM)

Keystone Investors PTE Ltd. acquired a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 59,345 shares of the auto manufacturer’s stock, valued at approximately $3,161,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in shares of General Motors by 19.7% during the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock worth $488,000 after purchasing an additional 1,510 shares during the last quarter. SYM FINANCIAL Corp acquired a new position in General Motors in the 4th quarter valued at $474,000. Asset Management One Co. Ltd. grew its position in shares of General Motors by 9.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after purchasing an additional 39,474 shares during the period. Avantra Family Wealth Inc. purchased a new stake in General Motors in the 4th quarter valued at about $1,044,000. Finally, Handelsbanken Fonder AB increased its stake in shares of General Motors by 10.9% during the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock valued at $10,763,000 after acquiring an additional 19,924 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now directly owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.72% of the stock is owned by insiders.

General Motors Stock Up 3.3 %

NYSE GM opened at $51.47 on Tuesday. The company has a market capitalization of $51.21 billion, a P/E ratio of 8.37, a PEG ratio of 0.67 and a beta of 1.42. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. 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’s 50 day simple moving average is $49.05 and its 200 day simple moving average is $50.51.

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

General Motors declared that its board has approved a stock repurchase 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 purchase up to 12.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GM. Cowen assumed coverage on shares of General Motors in a research report on Thursday, March 6th. They set a “buy” rating for the company. Piper Sandler upped their price target on General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Finally, Mizuho boosted their price objective on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.06.

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.