Nomura Asset Management Co. Ltd. Acquires 8,129 Shares of General Motors (NYSE:GM)

Nomura Asset Management Co. Ltd. raised its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 396,350 shares of the auto manufacturer’s stock after acquiring an additional 8,129 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in General Motors were worth $14,237,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Advisory Services Network LLC boosted its holdings in shares of General Motors by 11.7% in the 4th quarter. Advisory Services Network LLC now owns 24,127 shares of the auto manufacturer’s stock valued at $867,000 after buying an additional 2,523 shares during the last quarter. ProVise Management Group LLC boosted its holdings in shares of General Motors by 80.0% in the 4th quarter. ProVise Management Group LLC now owns 12,716 shares of the auto manufacturer’s stock valued at $457,000 after buying an additional 5,650 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of General Motors by 35.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 46,226 shares of the auto manufacturer’s stock valued at $1,696,000 after buying an additional 12,168 shares during the last quarter. FineMark National Bank & Trust boosted its holdings in shares of General Motors by 697.0% in the 4th quarter. FineMark National Bank & Trust now owns 52,095 shares of the auto manufacturer’s stock valued at $1,871,000 after buying an additional 45,559 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of General Motors by 59.3% in the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after buying an additional 32,331 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

General Motors Stock Performance

General Motors stock opened at $44.11 on Monday. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The business’s 50-day moving average price is $44.30 and its two-hundred day moving average price is $38.62. The stock has a market cap of $50.33 billion, a PE ratio of 5.39, a P/E/G ratio of 0.51 and a beta of 1.49.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same quarter in the previous year, the business posted $2.21 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, analysts expect that General Motors will post 9.4 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, June 7th. General Motors’s payout ratio is 5.87%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GM shares. Royal Bank of Canada increased their price objective on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Piper Sandler raised their price target on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Barclays raised their price target on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Morgan Stanley raised their price target on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Finally, Tigress Financial raised their price target on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.65.

Insider Activity

In other news, CAO Christopher Hatto sold 6,000 shares of General Motors stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $42.01, for a total transaction of $252,060.00. Following the sale, the chief accounting officer now directly owns 15,507 shares of the company’s stock, valued at $651,449.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Christopher Hatto sold 6,000 shares of General Motors stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $42.01, for a total value of $252,060.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,507 shares in the company, valued at $651,449.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,722 shares of company stock valued at $1,856,606. 0.72% of the stock is currently owned by corporate insiders.

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.