Adero Partners LLC Takes Position in General Motors (NYSE:GM)

Adero Partners LLC acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,872 shares of the auto manufacturer’s stock, valued at approximately $206,000.

Several other hedge funds have also recently made changes to their positions in GM. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of General Motors by 972.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after purchasing an additional 1,906,964 shares during the last quarter. Jennison Associates LLC grew its position in General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after buying an additional 1,779,897 shares during the period. National Bank of Canada FI grew its position in General Motors by 158.8% during the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock valued at $97,374,000 after buying an additional 1,332,450 shares during the period. Ninety One UK Ltd grew its position in General Motors by 38.7% during the fourth quarter. Ninety One UK Ltd now owns 4,089,633 shares of the auto manufacturer’s stock valued at $217,855,000 after buying an additional 1,140,569 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its position in General Motors by 6.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after buying an additional 989,750 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 8,919 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GM shares. Wells Fargo & Company boosted their target price on shares of General Motors from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. UBS Group boosted their target price on shares of General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research report on Wednesday, December 11th. Finally, Mizuho upped their price target on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.28.

General Motors Price Performance

General Motors stock opened at $47.91 on Friday. The company has a market cap of $47.67 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.69 and a beta of 1.40. The firm’s fifty day moving average is $52.11 and its 200 day moving average is $49.93. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a 52-week low of $37.83 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that General Motors will post 11.41 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is 7.80%.

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.