Mackenzie Financial Corp Acquires 313,297 Shares of General Motors (NYSE:GM)

Mackenzie Financial Corp lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 30.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,331,916 shares of the auto manufacturer’s stock after acquiring an additional 313,297 shares during the quarter. Mackenzie Financial Corp owned approximately 0.10% of General Motors worth $47,842,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Sector Pension Investment Board grew its position in shares of General Motors by 10.5% during the third quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock worth $4,859,000 after purchasing an additional 14,002 shares in the last quarter. Foundry Partners LLC grew its position in shares of General Motors by 15.0% during the third quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock worth $12,992,000 after purchasing an additional 51,336 shares in the last quarter. Strs Ohio grew its position in shares of General Motors by 7.7% during the fourth quarter. Strs Ohio now owns 1,532,997 shares of the auto manufacturer’s stock worth $55,065,000 after purchasing an additional 109,760 shares in the last quarter. Lmcg Investments LLC grew its holdings in General Motors by 108.7% during the 3rd quarter. Lmcg Investments LLC now owns 166,974 shares of the auto manufacturer’s stock valued at $5,505,000 after buying an additional 86,967 shares in the last quarter. Finally, Brookstone Capital Management grew its holdings in General Motors by 27.7% during the 3rd quarter. Brookstone Capital Management now owns 139,318 shares of the auto manufacturer’s stock valued at $4,593,000 after buying an additional 30,247 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on General Motors from $27.00 to $28.00 and gave the company an “underweight” rating in a report on Wednesday, January 31st. Redburn Atlantic started coverage on General Motors in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price target for the company. Piper Sandler started coverage on shares of General Motors in a research report on Friday, March 15th. They issued a “neutral” rating and a $44.00 price objective on the stock. Wedbush increased their price objective on shares of General Motors from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Finally, Morgan Stanley increased their price objective on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.57.

Insider Buying and Selling

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock valued at $3,614,078 over the last 90 days. Insiders own 0.54% of the company’s stock.

General Motors Trading Down 0.1 %

NYSE GM opened at $42.65 on Wednesday. The company has a fifty day simple moving average of $41.42 and a two-hundred day simple moving average of $35.64. The stock has a market cap of $49.24 billion, a P/E ratio of 5.83, a P/E/G ratio of 0.52 and a beta of 1.51. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21.

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

General Motors Increases Dividend

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