100,000 Shares in General Motors (NYSE:GM) Bought by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co acquired a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 100,000 shares of the auto manufacturer’s stock, valued at approximately $5,327,000.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. boosted its position in shares of General Motors by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock worth $1,559,380,000 after acquiring an additional 1,170,816 shares in the last quarter. Geode Capital Management LLC raised its position in shares of General Motors by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock worth $1,264,567,000 after acquiring an additional 176,436 shares in the last quarter. Norges Bank purchased a new stake in General Motors during the fourth quarter worth approximately $592,321,000. ACR Alpine Capital Research LLC increased its stake in General Motors by 39.8% in the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after purchasing an additional 2,104,528 shares during the last quarter. Finally, Amundi raised its holdings in General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after purchasing an additional 2,113,973 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Down 3.7 %

General Motors stock opened at $44.22 on Friday. The company has a 50-day simple moving average of $48.22 and a 200-day simple moving average of $50.57. The firm has a market capitalization of $44.00 billion, a P/E ratio of 7.19, a P/E/G ratio of 0.67 and a beta of 1.27. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a one year low of $38.96 and a one year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, equities analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.09%. General Motors’s dividend payout ratio is 7.80%.

General Motors announced that its board has approved a stock 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 repurchase up to 12.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Cowen assumed coverage on shares of General Motors in a report on Thursday, March 6th. They issued a “buy” rating for the company. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and increased their price objective for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Finally, TD Cowen began coverage on shares of General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, General Motors presently has an average rating of “Hold” and a consensus target price of $62.11.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

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.