GAMMA Investing LLC Takes Position in General Motors (NYSE:GM)

GAMMA Investing LLC purchased a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,339 shares of the auto manufacturer’s stock, valued at approximately $285,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in General Motors by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after purchasing an additional 1,580,681 shares in the last quarter. Morgan Stanley raised its position in General Motors by 1.3% during the 3rd quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after buying an additional 201,080 shares during the last quarter. Northern Trust Corp raised its position in General Motors by 1.8% during the 3rd quarter. Northern Trust Corp now owns 13,196,412 shares of the auto manufacturer’s stock worth $435,086,000 after buying an additional 237,359 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in General Motors by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,768,787 shares of the auto manufacturer’s stock worth $322,077,000 after buying an additional 197,750 shares during the last quarter. Finally, LSV Asset Management raised its position in General Motors by 1.7% during the 3rd quarter. LSV Asset Management now owns 8,617,870 shares of the auto manufacturer’s stock worth $284,131,000 after buying an additional 144,886 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GM has been the subject of several recent research reports. Citigroup lifted their target price on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler upped their price objective on shares of General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday. Mizuho upped their price objective on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday. Tigress Financial upped their target price on shares of General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 15th. Finally, Royal Bank of Canada upped their target price on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.38.

General Motors Stock Performance

Shares of General Motors stock opened at $45.62 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $52.05 billion, a P/E ratio of 5.58, a P/E/G ratio of 0.52 and a beta of 1.51. The firm’s 50 day moving average is $42.13 and its two-hundred day moving average is $36.19. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same period last year, the firm posted $2.21 EPS. General Motors’s quarterly revenue was up 7.6% on a year-over-year basis. Research analysts forecast that General Motors will post 9.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.05%. General Motors’s dividend payout ratio (DPR) is 5.87%.

Insider Activity at General Motors

In related news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gerald Johnson sold 15,190 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.03, for a total value of $608,055.70. Following the completion of the sale, the executive vice president now directly owns 98,628 shares of the company’s stock, valued at approximately $3,948,078.84. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock worth $3,614,078 in the last three months. Insiders own 0.54% of the company’s stock.

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.