Portfolio Design Labs LLC Has $2.64 Million Stock Position in General Motors (NYSE:GM)

Portfolio Design Labs LLC grew its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 29.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,567 shares of the auto manufacturer’s stock after buying an additional 11,227 shares during the quarter. Portfolio Design Labs LLC’s holdings in General Motors were worth $2,640,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GM. Blue Trust Inc. boosted its holdings in General Motors by 19.7% during the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock worth $488,000 after purchasing an additional 1,510 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in General Motors by 15.9% during the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after purchasing an additional 1,559 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in General Motors by 12.1% during the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after purchasing an additional 175,860 shares during the last quarter. Foster & Motley Inc. boosted its holdings in General Motors by 121.5% during the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after purchasing an additional 25,869 shares during the last quarter. Finally, Stoneridge Investment Partners LLC boosted its holdings in General Motors by 115.1% during the third quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock worth $8,001,000 after purchasing an additional 95,484 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Price Performance

Shares of NYSE:GM opened at $46.69 on Wednesday. The company has a 50 day moving average of $51.63 and a 200 day moving average of $49.96. The stock has a market cap of $46.46 billion, a P/E ratio of 7.59, a P/E/G ratio of 0.68 and a beta of 1.40. General Motors has a 12 month low of $37.83 and a 12 month high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, sell-side analysts forecast that General Motors will post 11.28 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s dividend payout ratio is currently 7.80%.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now directly owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Barclays lifted their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Wedbush lifted their price objective on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $61.28.

About General Motors

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.