Tennessee Valley Asset Management Partners Buys New Position in General Motors (NYSE:GM)

Tennessee Valley Asset Management Partners bought a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 995 shares of the auto manufacturer’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in General Motors by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock valued at $3,674,861,000 after purchasing an additional 1,580,681 shares in the last quarter. Morgan Stanley raised its position in General Motors by 1.3% in the 3rd quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock valued at $501,562,000 after purchasing an additional 201,080 shares in the last quarter. Northern Trust Corp raised its position in General Motors by 1.8% in the 3rd quarter. Northern Trust Corp now owns 13,196,412 shares of the auto manufacturer’s stock valued at $435,086,000 after purchasing an additional 237,359 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in General Motors by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,768,787 shares of the auto manufacturer’s stock valued at $322,077,000 after purchasing an additional 197,750 shares in the last quarter. Finally, LSV Asset Management raised its position in General Motors by 1.7% in the 3rd quarter. LSV Asset Management now owns 8,617,870 shares of the auto manufacturer’s stock valued at $284,131,000 after purchasing an additional 144,886 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on GM. Mizuho raised their target price on General Motors from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Wells Fargo & Company raised their target price on General Motors from $27.00 to $28.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 31st. Morgan Stanley raised their target price on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group raised their target price on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Tigress Financial raised their target price on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, General Motors has a consensus rating of “Moderate Buy” and an average target price of $52.52.

General Motors Stock Performance

NYSE GM opened at $45.10 on Wednesday. The stock has a market cap of $52.06 billion, a price-to-earnings ratio of 6.17, a price-to-earnings-growth ratio of 0.50 and a beta of 1.51. The business has a fifty day moving average of $41.86 and a 200-day moving average of $36.06. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.04. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.02 by $0.60. The firm had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 earnings per share. As a group, analysts predict that General Motors will post 9.12 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 6.57%.

Insider Transactions at General Motors

In other news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock valued at $3,614,078 over the last quarter. Company insiders own 0.54% of the company’s stock.

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.