Norden Group LLC Boosts Holdings in General Motors (NYSE:GM)

Norden Group LLC boosted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,906 shares of the auto manufacturer’s stock after buying an additional 229 shares during the quarter. Norden Group LLC’s holdings in General Motors were worth $421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its holdings in shares of General Motors by 2.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 11,659 shares of the auto manufacturer’s stock valued at $626,000 after purchasing an additional 290 shares during the last quarter. Hickory Point Bank & Trust acquired a new position in General Motors during the fourth quarter worth approximately $487,000. Duncker Streett & Co. Inc. lifted its stake in General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 498 shares during the last quarter. Metis Global Partners LLC lifted its stake in General Motors by 3.0% in the fourth quarter. Metis Global Partners LLC now owns 37,325 shares of the auto manufacturer’s stock valued at $1,988,000 after buying an additional 1,085 shares during the last quarter. Finally, Providence First Trust Co acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $145,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Price Performance

Shares of NYSE GM opened at $45.39 on Wednesday. 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 $38.94 and a one year high of $61.24. The firm has a market capitalization of $45.17 billion, a P/E ratio of 7.38, a PEG ratio of 0.67 and a beta of 1.40. The company’s fifty day moving average is $50.08 and its two-hundred day moving average is $50.47.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its board has approved a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is currently 7.80%.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GM has been the topic of a number of recent research reports. UBS Group reaffirmed a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research report on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $59.71.

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.