Perennial Investment Advisors LLC Decreases Stock Holdings in General Motors (NYSE:GM)

Perennial Investment Advisors LLC lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 10.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,008 shares of the auto manufacturer’s stock after selling 468 shares during the quarter. Perennial Investment Advisors LLC’s holdings in General Motors were worth $214,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GM. Franklin Resources Inc. raised its position in shares of General Motors by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares during the last quarter. Geode Capital Management LLC increased its stake in General Motors by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock worth $1,264,567,000 after buying an additional 176,436 shares in the last quarter. Norges Bank acquired a new position in shares of General Motors during the fourth quarter valued at approximately $592,321,000. ACR Alpine Capital Research LLC lifted its position in shares of General Motors by 39.8% in the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after acquiring an additional 2,104,528 shares in the last quarter. Finally, Amundi boosted its stake in shares of General Motors by 75.5% in the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after acquiring an additional 2,113,973 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GM. JPMorgan Chase & Co. reduced their price objective on General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Piper Sandler upped their price objective on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, General Motors presently has an average rating of “Hold” and a consensus price target of $62.11.

General Motors Stock Down 3.7 %

General Motors stock opened at $44.22 on Monday. The company has a market capitalization of $44.00 billion, a PE ratio of 7.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The firm has a 50 day moving average price of $48.22 and a 200 day moving average price of $50.58.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating 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%. Research analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its board has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.09%. General Motors’s dividend payout ratio is presently 7.80%.

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.