Van ECK Associates Corp Purchases 5,707 Shares of General Motors (NYSE:GM)

Van ECK Associates Corp increased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,091 shares of the auto manufacturer’s stock after purchasing an additional 5,707 shares during the period. Van ECK Associates Corp’s holdings in General Motors were worth $2,189,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of General Motors by 19.7% in the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock worth $488,000 after purchasing an additional 1,510 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of General Motors by 15.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after purchasing an additional 1,559 shares in the last quarter. Donald Smith & CO. Inc. lifted its holdings in shares of General Motors by 12.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after purchasing an additional 175,860 shares in the last quarter. Foster & Motley Inc. lifted its holdings in shares of General Motors by 121.5% in the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after purchasing an additional 25,869 shares in the last quarter. Finally, Stoneridge Investment Partners LLC lifted its holdings in shares of General Motors by 115.1% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock worth $8,001,000 after purchasing an additional 95,484 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GM has been the topic of several recent analyst reports. UBS Group raised their price objective on General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and raised their price objective for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Wells Fargo & Company raised their price objective on General Motors from $35.00 to $37.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.71.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $510,865.13. The trade was a 51.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction dated 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 approximately $694,751.24. The trade was a 700.12 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

General Motors Trading Up 0.1 %

Shares of GM opened at $47.84 on Friday. The business has a 50-day moving average of $50.81 and a 200 day moving average of $50.11. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. The firm has a market cap of $47.60 billion, a P/E ratio of 7.78, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. 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) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, research analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is presently 7.80%.

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.