Xponance Inc. Grows Position in General Motors (NYSE:GM)

Xponance Inc. grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,260 shares of the auto manufacturer’s stock after buying an additional 6,272 shares during the period. Xponance Inc.’s holdings in General Motors were worth $6,403,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in General Motors in the 4th quarter worth approximately $493,248,000. Price T Rowe Associates Inc. MD lifted its position in General Motors by 80.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,687,738 shares of the auto manufacturer’s stock valued at $538,747,000 after purchasing an additional 6,548,022 shares during the period. Acadian Asset Management LLC boosted its holdings in General Motors by 454.3% in the third quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock valued at $171,961,000 after purchasing an additional 4,275,293 shares during the last quarter. Renaissance Technologies LLC grew its position in General Motors by 1,257.3% during the 1st quarter. Renaissance Technologies LLC now owns 2,368,500 shares of the auto manufacturer’s stock worth $103,598,000 after purchasing an additional 2,194,000 shares during the period. Finally, AQR Capital Management LLC grew its position in General Motors by 32.6% during the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock worth $274,531,000 after purchasing an additional 2,049,412 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Down 0.2 %

NYSE:GM opened at $42.38 on Friday. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04. The stock’s fifty day moving average is $41.65 and its two-hundred day moving average is $35.80. The stock has a market capitalization of $48.92 billion, a price-to-earnings ratio of 5.80, a price-to-earnings-growth ratio of 0.51 and a beta of 1.51. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. The company had revenue of $42.98 billion during the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. General Motors’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the business posted $2.12 EPS. Research analysts anticipate that General Motors will post 9.12 EPS for the current year.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Friday, March 1st were issued a dividend of $0.12 per share. This is an increase from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.48 annualized dividend and a yield of 1.13%. General Motors’s dividend payout ratio is 6.57%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GM. Tigress Financial boosted their price objective on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a report on Thursday, February 15th. Barclays raised their price objective on shares of General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Piper Sandler began coverage on shares of General Motors in a report on Friday, March 15th. They set a “neutral” rating and a $44.00 price target on the stock. Morgan Stanley upped their price objective on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada boosted their price objective on General Motors from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.57.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 5,100 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the transaction, the executive vice president now directly owns 12,658 shares in the company, valued at $544,800.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Christopher Hatto sold 3,500 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 5,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the transaction, the executive vice president now owns 12,658 shares in the company, valued at $544,800.32. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock valued at $3,614,078 in the last quarter. Corporate 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.