OLD National Bancorp IN Raises Stake in General Motors (NYSE:GM)

OLD National Bancorp IN boosted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 13.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,787 shares of the auto manufacturer’s stock after buying an additional 795 shares during the period. OLD National Bancorp IN’s holdings in General Motors were worth $362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GM. Gries Financial LLC lifted its holdings in shares of General Motors by 4.4% during the 4th quarter. Gries Financial LLC now owns 6,605 shares of the auto manufacturer’s stock valued at $352,000 after acquiring an additional 277 shares in the last quarter. Foster & Motley Inc. lifted its stake in shares of General Motors by 91.2% during the fourth quarter. Foster & Motley Inc. now owns 90,168 shares of the auto manufacturer’s stock worth $4,803,000 after purchasing an additional 42,999 shares in the last quarter. Patton Fund Management Inc. purchased a new stake in shares of General Motors in the fourth quarter worth about $4,215,000. R Squared Ltd acquired a new stake in shares of General Motors in the fourth quarter valued at about $231,000. Finally, Barry Investment Advisors LLC purchased a new stake in shares of General Motors during the 4th quarter valued at about $220,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, President Mark L. Reuss sold 122,283 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the transaction, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 514,344 shares of company stock worth $28,977,691 in the last three months. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on GM shares. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and upped their price target for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Mizuho raised their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Barclays boosted their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. increased their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $61.28.

General Motors Stock Down 0.1 %

Shares of General Motors stock opened at $49.46 on Friday. General Motors has a twelve month low of $37.60 and a twelve month high of $61.24. The stock has a market capitalization of $49.21 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 0.28 and a beta of 1.42. The company has a current ratio of 1.13, a quick ratio of 1.03 and a debt-to-equity ratio of 1.38. The business’s 50 day simple moving average is $52.64 and its 200-day simple moving average is $49.95.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) 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%. Equities research analysts forecast that General Motors will post 11.45 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is 7.80%.

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.