Klingenstein Fields & Co. LP Makes New $207,000 Investment in General Motors (NYSE:GM)

Klingenstein Fields & Co. LP bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, HoldingsChannel.com reports. The fund bought 5,758 shares of the auto manufacturer’s stock, valued at approximately $207,000.

Several other large investors also recently bought and sold shares of the stock. Pacifica Partners Inc. boosted its holdings in General Motors by 10.1% during the fourth quarter. Pacifica Partners Inc. now owns 3,288 shares of the auto manufacturer’s stock worth $107,000 after buying an additional 301 shares in the last quarter. Cornerstone Wealth Management LLC raised its position in General Motors by 6.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,481 shares of the auto manufacturer’s stock worth $233,000 after acquiring an additional 404 shares during the period. CX Institutional raised its position in General Motors by 4.2% during the third quarter. CX Institutional now owns 10,675 shares of the auto manufacturer’s stock worth $352,000 after acquiring an additional 431 shares during the period. Graypoint LLC raised its position in General Motors by 2.8% during the fourth quarter. Graypoint LLC now owns 16,397 shares of the auto manufacturer’s stock worth $589,000 after acquiring an additional 447 shares during the period. Finally, GPS Wealth Strategies Group LLC raised its position in General Motors by 12.5% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 4,119 shares of the auto manufacturer’s stock worth $148,000 after acquiring an additional 458 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of General Motors from $27.00 to $28.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 31st. Redburn Atlantic started coverage on shares of General Motors in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 target price for the company. Morgan Stanley increased their target price on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Barclays increased their target price on shares of General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Mizuho increased their target price on shares of General Motors from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.57.

Insider Activity

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

General Motors Trading Up 0.6 %

GM stock traded up $0.26 during mid-day trading on Monday, hitting $42.63. 1,322,999 shares of the company were exchanged, compared to its average volume of 17,180,785. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $49.21 billion, a P/E ratio of 5.80, a PEG ratio of 0.50 and a beta of 1.51. The business has a fifty day simple moving average of $41.65 and a 200-day simple moving average of $35.87. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.08. The company had revenue of $42.98 billion during the quarter, compared to analyst estimates of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. General Motors’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.12 earnings per share. On average, equities research analysts predict that General Motors will post 9.12 earnings per share for the current fiscal year.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, March 1st were paid a $0.12 dividend. This is a positive change from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.13%. General Motors’s dividend payout ratio (DPR) is presently 6.57%.

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.