Sawgrass Asset Management LLC Invests $488,000 in General Motors (NYSE:GM)

Sawgrass Asset Management LLC bought a new position in General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, HoldingsChannel reports. The fund bought 9,161 shares of the auto manufacturer’s stock, valued at approximately $488,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. boosted its position in shares of General Motors by 19.7% in the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock worth $488,000 after buying an additional 1,510 shares during the period. Chicago Partners Investment Group LLC boosted its position 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 valued at $510,000 after purchasing an additional 1,559 shares during the last quarter. Donald Smith & CO. Inc. boosted its position 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 valued at $73,070,000 after purchasing an additional 175,860 shares during the last quarter. Foster & Motley Inc. boosted its position in General Motors by 121.5% during the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after purchasing an additional 25,869 shares during the last quarter. Finally, Stoneridge Investment Partners LLC boosted its position 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 valued at $8,001,000 after purchasing an additional 95,484 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In related news, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction on Monday, November 25th. The stock was 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 of the company’s stock, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Up 2.2 %

Shares of GM opened at $47.71 on Thursday. The company has a market capitalization of $47.47 billion, a P/E ratio of 7.76, a PEG ratio of 0.68 and a beta of 1.40. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a one year low of $37.83 and a one year high of $61.24. The business’s 50 day simple moving average is $51.49 and its 200-day simple moving average is $49.98.

General Motors (NYSE:GM) (TSE:GMM.U) last announced 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%. As a group, sell-side analysts predict that General Motors will post 11.28 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is 7.80%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GM shares. Wells Fargo & Company raised their target price on General Motors from $35.00 to $37.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a report on Wednesday, December 11th. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Mizuho lifted their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.