Handelsbanken Fonder AB Has $10.76 Million Stock Position in General Motors (NYSE:GM)

Handelsbanken Fonder AB raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 202,054 shares of the auto manufacturer’s stock after buying an additional 19,924 shares during the period. Handelsbanken Fonder AB’s holdings in General Motors were worth $10,763,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Golden State Wealth Management LLC acquired a new stake in shares of General Motors in the 4th quarter valued at $25,000. Crews Bank & Trust bought a new position in General Motors during the 4th quarter worth approximately $26,000. Catalyst Capital Advisors LLC bought a new stake in General Motors in the third quarter valued at approximately $27,000. Truvestments Capital LLC bought a new position in shares of General Motors during the third quarter worth $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of General Motors in the 4th quarter valued at $28,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Price Performance

NYSE:GM opened at $46.31 on Friday. The firm has a fifty day simple moving average of $50.68 and a 200 day simple moving average of $50.22. General Motors has a 1-year low of $38.94 and a 1-year high of $61.24. The stock has a market capitalization of $46.07 billion, a PE ratio of 7.53, a P/E/G ratio of 0.67 and a beta of 1.40. 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 earnings results 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 return on equity of 15.29% and a net margin of 3.21%. On average, research analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is 7.80%.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on GM shares. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Mizuho upped their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft raised shares of 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 report on Tuesday, January 21st. Finally, HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.71.

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.