Federated Hermes Inc. Acquires 305,793 Shares of General Motors (NYSE:GM)

Federated Hermes Inc. lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 90.6% in the fourth quarter, Holdings Channel reports. The fund owned 643,349 shares of the auto manufacturer’s stock after purchasing an additional 305,793 shares during the quarter. Federated Hermes Inc.’s holdings in General Motors were worth $34,271,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Golden State Wealth Management LLC bought a new stake in shares of General Motors in the 4th quarter valued at approximately $25,000. Crews Bank & Trust bought a new stake in General Motors in the fourth quarter worth $26,000. Compass Planning Associates Inc purchased a new position in General Motors during the fourth quarter worth $27,000. Duncker Streett & Co. Inc. increased its position in General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 498 shares during the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

GM has been the topic of a number of recent analyst reports. Sanford C. Bernstein lowered shares of General Motors from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $50.00 to $35.00 in a research report on Monday. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Cowen started coverage on General Motors in a research report on Thursday, March 6th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.00.

General Motors Price Performance

GM opened at $43.55 on Tuesday. The firm has a market capitalization of $43.33 billion, a PE ratio of 7.08, 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 current ratio of 1.13 and a quick ratio of 0.98. The business’s 50-day moving average is $47.99 and its two-hundred day moving average is $50.55. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24.

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

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were given a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.10%. General Motors’s payout ratio is 7.80%.

General Motors declared that its board has initiated a stock repurchase 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 often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were bought 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 approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is owned by company insiders.

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.