Castlekeep Investment Advisors LLC Acquires Shares of 18,538 General Motors (NYSE:GM)

Castlekeep Investment Advisors LLC purchased a new position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,538 shares of the auto manufacturer's stock, valued at approximately $988,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Trust Point Inc. grew its position in shares of General Motors by 2.7% during the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock worth $386,000 after buying an additional 193 shares in the last quarter. Holistic Planning LLC lifted its stake in shares of 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 purchasing an additional 214 shares during the last quarter. Nemes Rush Group LLC lifted its stake in shares of General Motors by 18.7% during the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock worth $73,000 after purchasing an additional 217 shares during the last quarter. Operose Advisors LLC lifted its stake in shares of General Motors by 18.7% during the 4th quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock worth $75,000 after purchasing an additional 223 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of General Motors by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after purchasing an additional 226 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GM shares. Barclays upped their price objective on General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Cowen started coverage on General Motors in a research note on Thursday, March 6th. They set a "buy" rating for the company. Piper Sandler restated a "neutral" rating and set a $48.00 price objective (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Wedbush decreased their price objective on General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, BNP Paribas upgraded General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $54.56.

General Motors Stock Performance

Shares of GM stock traded down $0.93 during mid-day trading on Wednesday, reaching $48.16. The stock had a trading volume of 8,393,272 shares, compared to its average volume of 13,304,143. The business's fifty day moving average is $46.95 and its 200-day moving average is $49.81. 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 $46.30 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 0.67 and a beta of 1.36. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. The firm had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. General Motors's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $2.62 earnings per share. On average, research analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.25%. This is a positive change from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. General Motors's dividend payout ratio (DPR) is 8.65%.

General Motors announced that its board has approved a stock repurchase 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 purchase up to 12.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

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.