Johnson Investment Counsel Inc. Boosts Stock Position in General Motors (NYSE:GM)

Johnson Investment Counsel Inc. grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 74.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,856 shares of the auto manufacturer’s stock after buying an additional 6,344 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in General Motors were worth $791,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Golden State Wealth Management LLC purchased a new stake in shares of General Motors during the fourth quarter worth approximately $25,000. Crews Bank & Trust purchased a new stake in shares of General Motors during the fourth quarter worth approximately $26,000. Truvestments Capital LLC purchased a new stake in shares of General Motors during the third quarter worth approximately $27,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors during the fourth quarter worth approximately $27,000. Finally, Duncker Streett & Co. Inc. increased its position in shares of General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Price Performance

GM opened at $47.92 on Thursday. The stock’s 50-day moving average price is $49.38 and its 200 day moving average price is $50.49. General Motors has a 12-month low of $38.94 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. The firm has a market cap of $47.68 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (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 expect that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

General Motors Announces Dividend

The company also recently announced 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. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is 7.80%.

Insider Buying and Selling

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 shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group set a $73.00 price objective on General Motors in a research note on Saturday, March 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.89.

General Motors 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.