Neo Ivy Capital Management Acquires Shares of 6,759 General Motors (NYSE:GM)

Neo Ivy Capital Management bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,759 shares of the auto manufacturer’s stock, valued at approximately $360,000.

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

General Motors Stock Performance

Shares of General Motors stock opened at $48.72 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a market cap of $46.84 billion, a price-to-earnings ratio of 7.92, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. The stock’s 50-day moving average is $46.98 and its 200-day moving average is $49.94. General Motors has a one year low of $38.96 and a one year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.15. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The business had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. During the same quarter last year, the firm earned $2.62 EPS. General Motors’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has authorized a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Friday, June 6th. This is a positive change from General Motors’s previous quarterly dividend of $0.12. General Motors’s payout ratio is currently 8.65%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GM. Citigroup assumed coverage on General Motors in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $62.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Piper Sandler reiterated a “neutral” rating and issued a $48.00 target price (up from $43.00) on shares of General Motors in a report on Thursday. TD Cowen initiated coverage on shares of General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 price target on the stock. Finally, Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $54.56.

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.