Pitcairn Co. Purchases 7,822 Shares of General Motors (NYSE:GM)

Pitcairn Co. raised its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 106.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,181 shares of the auto manufacturer's stock after buying an additional 7,822 shares during the quarter. Pitcairn Co.'s holdings in General Motors were worth $809,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GM. Golden State Wealth Management LLC bought a new position in General Motors during the 4th quarter worth $25,000. Crews Bank & Trust acquired a new position in General Motors in the fourth quarter valued at about $26,000. Compass Planning Associates Inc bought a new stake in General Motors during the fourth quarter worth about $27,000. Duncker Streett & Co. Inc. grew its stake in General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock worth $27,000 after buying an additional 498 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 425 shares during the period. Institutional investors own 92.67% of the company's stock.

General Motors Trading Down 5.1 %

Shares of General Motors stock traded down $2.32 on Thursday, reaching $43.43. 7,847,589 shares of the company's stock were exchanged, compared to its average volume of 13,534,334. The firm's 50-day moving average is $47.54 and its two-hundred day moving average is $50.40. The company has a market capitalization of $43.21 billion, a P/E ratio of 7.10, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. 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 has a 52 week low of $38.96 and a 52 week high of $61.24.

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 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Sell-side analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a $0.12 dividend. 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 1.11%. General Motors's dividend payout ratio (DPR) is presently 7.80%.

General Motors announced that its board has approved a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GM shares. Cowen assumed coverage on shares of General Motors in a research note on Thursday, March 6th. They issued a "buy" rating on the stock. StockNews.com cut General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. TD Cowen assumed coverage on General Motors in a research report on Friday, March 7th. They issued a "buy" rating and a $105.00 target price on the stock. The Goldman Sachs Group set a $73.00 target price on shares of General Motors in a report on Saturday, March 1st. Finally, Hsbc Global Res cut shares of General Motors from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $59.89.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.72% 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.