Mariner LLC cut its position in General Motors (NYSE:GM – Free Report) TSE: GMM.U by 19.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 345,619 shares of the auto manufacturer’s stock after selling 81,389 shares during the period. Mariner LLC’s holdings in General Motors were worth $18,411,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in shares of General Motors by 4.2% during the fourth 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 in the last quarter. Geode Capital Management LLC boosted its holdings in General Motors by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock valued at $1,264,567,000 after acquiring an additional 176,436 shares during the last quarter. Norges Bank acquired a new stake in General Motors in the fourth quarter worth about $592,321,000. ACR Alpine Capital Research LLC raised its holdings in General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after purchasing an additional 2,104,528 shares during the last quarter. Finally, Amundi lifted its position in General Motors by 75.5% during the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after purchasing an additional 2,113,973 shares during the period. 92.67% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.
GM has been the subject of a number of recent research reports. TD Cowen began coverage on shares of General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price target for the company. Deutsche Bank Aktiengesellschaft downgraded General Motors from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research note on Monday. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group dropped their price objective on General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Mizuho reduced their target price on General Motors from $63.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, April 10th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine 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 target price of $56.72.
Shares of General Motors stock opened at $44.26 on Thursday. 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 firm has a market cap of $44.04 billion, a price-to-earnings ratio of 7.20, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. General Motors has a one year low of $38.96 and a one year high of $61.24. The stock’s 50-day moving average is $47.18 and its 200-day moving average is $50.29.
General Motors (NYSE:GM – Get Free Report) TSE: GMM.U last released its quarterly 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 of Directors has initiated a share buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.