denkapparat Operations GmbH Makes New $492,000 Investment in General Motors (NYSE:GM)

denkapparat Operations GmbH purchased a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,244 shares of the auto manufacturer’s stock, valued at approximately $492,000.

A number of other hedge funds also recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in General Motors by 19.7% in the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after buying an additional 1,510 shares in the last quarter. SYM FINANCIAL Corp bought a new position in shares of General Motors in the fourth quarter worth about $474,000. Asset Management One Co. Ltd. boosted its stake in shares of General Motors by 9.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after purchasing an additional 39,474 shares in the last quarter. Avantra Family Wealth Inc. bought a new stake in shares of General Motors during the 4th quarter valued at approximately $1,044,000. Finally, Handelsbanken Fonder AB increased its position in General Motors by 10.9% during the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock worth $10,763,000 after purchasing an additional 19,924 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.72% of the stock is owned by insiders.

General Motors Trading Down 7.3 %

Shares of GM stock opened at $47.24 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The company has a 50-day moving average of $48.97 and a two-hundred day moving average of $50.53. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. The firm has a market cap of $47.00 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly 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 return on equity of 15.29% and a net margin of 3.21%. On average, analysts predict that General Motors will post 11.44 EPS for the current year.

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

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

Analyst Ratings Changes

A number of brokerages have recently commented on GM. TD Cowen assumed coverage on General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and boosted their price objective for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Cowen began coverage on shares of General Motors in a report on Thursday, March 6th. They issued a “buy” rating for the company. Mizuho boosted their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Piper Sandler upped their target price on shares of General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.11.

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.