Aster Capital Management DIFC Ltd Reduces Stake in General Motors (NYSE:GM)

Aster Capital Management DIFC Ltd cut its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 69.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,931 shares of the auto manufacturer's stock after selling 35,582 shares during the quarter. Aster Capital Management DIFC Ltd's holdings in General Motors were worth $849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GM. Trust Point Inc. boosted its stake in shares of General Motors by 2.7% during the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock valued at $386,000 after purchasing an additional 193 shares in the last quarter. Continuum Advisory LLC boosted its position in General Motors by 7.9% during the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer's stock worth $131,000 after buying an additional 213 shares during the period. Holistic Planning LLC grew its holdings in General Motors by 3.9% during the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer's stock worth $307,000 after acquiring an additional 214 shares during the last quarter. Nemes Rush Group LLC increased its position in General Motors by 18.7% in the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock valued at $73,000 after acquiring an additional 217 shares during the period. Finally, Norden Group LLC raised its stake in shares of General Motors by 3.0% during the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer's stock valued at $421,000 after acquiring an additional 229 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.

General Motors Stock Down 0.6 %

General Motors stock traded down $0.26 during mid-day trading on Friday, reaching $43.48. The stock had a trading volume of 3,962,991 shares, compared to its average volume of 13,540,641. The firm has a market capitalization of $43.26 billion, a PE ratio of 7.05, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The stock's 50-day simple moving average is $47.46 and its 200-day simple moving average is $50.37. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (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%. On average, sell-side analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

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

General Motors declared that its board has initiated a share buyback program on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently weighed in on GM. JPMorgan Chase & Co. reduced their price objective on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft raised General Motors from a "hold" rating to a "buy" rating and increased their price target for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Piper Sandler lifted their price objective on General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. The Goldman Sachs Group decreased their target price on shares of General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Mizuho dropped their price target on shares of General Motors from $63.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $59.33.

General Motors Company 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.