Fisher Asset Management LLC Boosts Stock Position in General Motors (NYSE:GM)

Fisher Asset Management LLC grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,492,719 shares of the auto manufacturer’s stock after buying an additional 26,260 shares during the period. Fisher Asset Management LLC’s holdings in General Motors were worth $233,219,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GM. Norges Bank bought a new position in General Motors in the 4th quarter worth approximately $602,280,000. Acadian Asset Management LLC raised its holdings in shares of General Motors by 454.3% during the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after acquiring an additional 4,275,293 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of General Motors by 21.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after acquiring an additional 3,247,050 shares in the last quarter. Putnam Investments LLC raised its holdings in shares of General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after acquiring an additional 2,905,689 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of 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 acquiring an additional 2,049,412 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the transaction, the chief executive officer now owns 898,648 shares of the company’s stock, valued at approximately $43,431,657.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $43.04, for a total transaction of $219,504.00. Following the sale, the executive vice president now owns 12,658 shares of the company’s stock, valued at $544,800.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mary T. Barra sold 326,305 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the sale, the chief executive officer now directly owns 898,648 shares in the company, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,194,343 shares of company stock valued at $53,674,717. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GM has been the topic of several recent research reports. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Saturday, June 1st. Barclays upped their price objective on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Royal Bank of Canada upped their price objective on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Mizuho upped their price objective on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Morgan Stanley increased their price target on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.65.

General Motors Trading Down 1.8 %

GM stock traded down $0.88 during midday trading on Friday, reaching $46.77. The company’s stock had a trading volume of 14,716,546 shares, compared to its average volume of 13,679,525. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. The stock has a fifty day simple moving average of $44.85 and a two-hundred day simple moving average of $40.47. General Motors has a 1 year low of $26.30 and a 1 year high of $49.35. The firm has a market capitalization of $53.36 billion, a price-to-earnings ratio of 5.72, a PEG ratio of 0.54 and a beta of 1.46.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same quarter last year, the firm posted $2.21 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts predict that General Motors will post 9.44 EPS for the current year.

General Motors announced that its Board of Directors has authorized a share repurchase plan on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, June 7th. General Motors’s payout ratio is 5.87%.

General Motors Company 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.