Mackenzie Financial Corp Boosts Holdings in General Motors (NYSE:GM)

Mackenzie Financial Corp grew its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 30.8% during the fourth quarter, HoldingsChannel reports. The firm owned 1,331,916 shares of the auto manufacturer’s stock after buying an additional 313,297 shares during the period. Mackenzie Financial Corp’s holdings in General Motors were worth $47,842,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GM. SouthState Corp raised its stake in shares of General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 485 shares during the period. Penserra Capital Management LLC increased its stake in shares of General Motors by 85.8% in the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after buying an additional 283 shares during the last quarter. Highlander Capital Management LLC bought a new stake in shares of General Motors in the fourth quarter worth $27,000. BluePath Capital Management LLC bought a new stake in shares of General Motors in the third quarter worth $33,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of General Motors in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In related news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GM has been the subject of a number of research analyst reports. Redburn Atlantic began coverage on shares of General Motors in a research note on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price target for the company. TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Tigress Financial lifted their price objective on shares of General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 15th. The Goldman Sachs Group lifted their price objective on shares of General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Mizuho boosted their price target on shares of General Motors from $44.00 to $48.00 and gave the company a “buy” rating in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.57.

General Motors Price Performance

NYSE GM opened at $42.65 on Wednesday. The stock’s 50-day moving average price is $41.42 and its two-hundred day moving average price is $35.64. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The company has a market cap of $49.24 billion, a PE ratio of 5.83, a PEG ratio of 0.52 and a beta of 1.51. General Motors has a 1 year low of $26.30 and a 1 year high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.08. The firm had revenue of $42.98 billion for the quarter, compared to the consensus estimate of $38.81 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.12 EPS. On average, analysts predict that General Motors will post 9.08 EPS for the current year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were paid a $0.12 dividend. This is a boost from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, February 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.13%. General Motors’s payout ratio is presently 6.57%.

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.