100,000 Shares in General Motors (NYSE:GM) Bought by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co acquired a new position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 100,000 shares of the auto manufacturer's stock, valued at approximately $5,327,000.

Several other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of General Motors in the fourth quarter valued at about $25,000. Crews Bank & Trust acquired a new stake in General Motors in the 4th quarter worth about $26,000. Compass Planning Associates Inc bought a new stake in General Motors in the 4th quarter valued at about $27,000. Duncker Streett & Co. Inc. grew its position in shares of General Motors by 9,960.0% during the 4th 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. Finally, Whittier Trust Co. increased its holdings in shares of General Motors by 551.9% during the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after purchasing an additional 425 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GM has been the topic of a number of analyst reports. Mizuho reduced their price target on General Motors from $63.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday. Sanford C. Bernstein lowered General Motors from a "market perform" rating to an "underperform" rating and reduced their target price for the stock from $50.00 to $35.00 in a report on Monday. Piper Sandler upped their price objective on shares of General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. The Goldman Sachs Group reduced their price objective on shares of General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, TD Cowen began coverage on shares of General Motors in a research note on Friday, March 7th. They issued a "buy" rating and a $105.00 price objective on the stock. Four analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, General Motors has an average rating of "Hold" and a consensus price target of $59.33.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.72% of the company's stock.

General Motors Stock Down 0.5 %

NYSE:GM traded down $0.20 during trading hours on Friday, hitting $43.53. 3,555,471 shares of the company traded hands, compared to its average volume of 13,539,445. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The company has a market cap of $43.31 billion, a PE ratio of 7.07, a PEG ratio of 0.67 and a beta of 1.27. The firm's 50-day simple moving average is $47.46 and its 200-day simple moving average is $50.37.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Equities analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.10%. General Motors's dividend payout ratio is presently 7.80%.

General Motors announced that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

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.