Sciencast Management LP Has $3.05 Million Stake in General Motors (NYSE:GM)

Sciencast Management LP raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 6.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 57,298 shares of the auto manufacturer’s stock after purchasing an additional 3,502 shares during the quarter. General Motors comprises approximately 0.8% of Sciencast Management LP’s holdings, making the stock its 3rd biggest position. Sciencast Management LP’s holdings in General Motors were worth $3,052,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GM. Trust Point Inc. grew its stake in shares of General Motors by 2.7% in the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after buying an additional 193 shares in the last quarter. Avestar Capital LLC raised its position in General Motors by 2.3% during the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after purchasing an additional 213 shares during the period. Continuum Advisory LLC lifted its stake in shares of General Motors by 7.9% in the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock valued at $131,000 after purchasing an additional 213 shares during the last quarter. Holistic Planning LLC boosted its holdings in shares of General Motors by 3.9% in the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after purchasing an additional 214 shares during the period. Finally, Norden Group LLC increased its position in shares of General Motors by 3.0% during the 4th quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock valued at $421,000 after purchasing an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

General Motors Price Performance

Shares of GM opened at $49.77 on Friday. 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 company has a 50 day moving average price of $49.02 and a 200-day moving average price of $50.46. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The stock has a market capitalization of $49.53 billion, a PE ratio of 8.09, a PEG ratio of 0.67 and a beta of 1.42.

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

General Motors announced that its board has authorized a share buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 0.96%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Wall Street Analyst Weigh In

GM has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Wednesday, December 11th. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Mizuho increased their price target on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Piper Sandler boosted their price objective on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday. Three 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’s stock. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus price target of $63.06.

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.