Wolverine Asset Management LLC Invests $898,000 in General Motors (NYSE:GM)

Wolverine Asset Management LLC acquired a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 25,000 shares of the auto manufacturer’s stock, valued at approximately $898,000.

Several other hedge funds have also modified their holdings of GM. Impact Partnership Wealth LLC grew its position in General Motors by 53.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 1,649 shares of the auto manufacturer’s stock valued at $54,000 after acquiring an additional 577 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in General Motors in the 3rd quarter valued at $122,000. Caprock Group LLC grew its position in General Motors by 8.8% in the 3rd quarter. Caprock Group LLC now owns 21,652 shares of the auto manufacturer’s stock valued at $714,000 after acquiring an additional 1,757 shares during the last quarter. CX Institutional grew its position in General Motors by 4.2% in the 3rd quarter. CX Institutional now owns 10,675 shares of the auto manufacturer’s stock valued at $352,000 after acquiring an additional 431 shares during the last quarter. Finally, Czech National Bank grew its position in General Motors by 46.1% in the 3rd quarter. Czech National Bank now owns 240,480 shares of the auto manufacturer’s stock valued at $7,929,000 after acquiring an additional 75,873 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Up 1.2 %

GM opened at $45.62 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90. The business has a 50 day simple moving average of $42.13 and a 200-day simple moving average of $36.19. The stock has a market capitalization of $52.05 billion, a P/E ratio of 5.58, a P/E/G ratio of 0.52 and a beta of 1.51. General Motors has a 12 month low of $26.30 and a 12 month high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly 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. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the firm earned $2.21 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts anticipate that General Motors will post 9.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

Insider Activity

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares in the company, valued at $540,315. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Christopher Hatto sold 3,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The disclosure for this sale can be found here. Insiders sold a total of 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wedbush increased their price target on General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company raised their target price on General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Wednesday. UBS Group boosted their price target on General Motors from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler boosted their price objective on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Barclays upped their price target on General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.38.

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.