Picton Mahoney Asset Management Has $12.70 Million Stock Position in General Motors (NYSE:GM)

Picton Mahoney Asset Management lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 26.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 238,475 shares of the auto manufacturer’s stock after buying an additional 50,185 shares during the period. Picton Mahoney Asset Management’s holdings in General Motors were worth $12,704,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. HMV Wealth Advisors LLC acquired a new position in shares of General Motors during the 4th quarter worth $206,000. PGGM Investments acquired a new position in shares of General Motors during the 4th quarter worth $631,000. HBK Sorce Advisory LLC acquired a new position in shares of General Motors during the 4th quarter worth $217,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of General Motors by 46.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 330,603 shares of the auto manufacturer’s stock worth $17,740,000 after purchasing an additional 105,167 shares during the last quarter. Finally, Tredje AP fonden increased its stake in shares of General Motors by 168.4% during the 4th quarter. Tredje AP fonden now owns 1,046,700 shares of the auto manufacturer’s stock worth $55,758,000 after purchasing an additional 656,700 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on GM shares. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and upped their price objective for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Cowen started coverage on shares of General Motors in a report on Thursday, March 6th. They set a “buy” rating for the company. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Finally, Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, General Motors presently has an average rating of “Hold” and an average target price of $62.89.

General Motors Trading Up 2.6 %

Shares of GM stock opened at $48.34 on Friday. The stock has a market cap of $48.10 billion, a price-to-earnings ratio of 7.86, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The firm has a fifty day moving average of $49.23 and a 200-day moving average of $50.46. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (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%. On average, equities research analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is presently 7.80%.

General Motors announced that its board has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was purchased at an average price 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. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.72% 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.