Thrivent Financial For Lutherans trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 116,504 shares of the auto manufacturer’s stock after selling 1,562 shares during the quarter. Thrivent Financial For Lutherans’ holdings in General Motors were worth $4,776,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Caisse DE Depot ET Placement DU Quebec increased its holdings in General Motors by 154.4% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,923,200 shares of the auto manufacturer’s stock worth $242,792,000 after buying an additional 3,594,700 shares during the period. Renaissance Technologies LLC boosted its position in General Motors by 171.3% in the 4th quarter. Renaissance Technologies LLC now owns 5,310,000 shares of the auto manufacturer’s stock worth $217,657,000 after purchasing an additional 3,352,900 shares in the last quarter. SG Americas Securities LLC boosted its position in General Motors by 4,992.3% in the 4th quarter. SG Americas Securities LLC now owns 2,962,746 shares of the auto manufacturer’s stock worth $121,443,000 after purchasing an additional 2,904,565 shares in the last quarter. APG Asset Management N.V. boosted its position in General Motors by 807.4% in the 4th quarter. APG Asset Management N.V. now owns 2,597,441 shares of the auto manufacturer’s stock worth $88,665,000 after purchasing an additional 2,311,204 shares in the last quarter. Finally, Levin Capital Strategies L.P. boosted its position in General Motors by 123.4% in the 4th quarter. Levin Capital Strategies L.P. now owns 3,440,444 shares of the auto manufacturer’s stock worth $141,024,000 after purchasing an additional 1,900,236 shares in the last quarter. 73.55% of the stock is owned by institutional investors and hedge funds.
In related news, CAO Thomas S. Timko sold 8,461 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $42.06, for a total transaction of $355,869.66. Following the transaction, the chief accounting officer now owns 33,519 shares of the company’s stock, valued at $1,409,809.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Barry L. Engle II sold 50,443 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $45.00, for a total value of $2,269,935.00. Following the transaction, the insider now directly owns 57,091 shares in the company, valued at approximately $2,569,095. The disclosure for this sale can be found here. In the last three months, insiders sold 40,294,848 shares of company stock worth $1,600,664,861. Corporate insiders own 0.04% of the company’s stock.
Several research firms have commented on GM. Vetr lowered General Motors from a “hold” rating to a “sell” rating and set a $40.25 price objective on the stock. in a research report on Tuesday, February 27th. Goldman Sachs set a $33.00 target price on General Motors and gave the company a “sell” rating in a research report on Tuesday, February 6th. Royal Bank of Canada upgraded General Motors from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $51.00 to $52.00 in a report on Tuesday, December 19th. Barclays restated a “buy” rating and issued a $60.00 price objective on shares of General Motors in a report on Sunday, January 21st. Finally, Bank of America raised their price objective on General Motors from $57.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. General Motors presently has an average rating of “Buy” and an average target price of $44.65.
GM stock traded down $0.32 during trading on Friday, hitting $37.68. 14,731,498 shares of the company’s stock were exchanged, compared to its average volume of 12,249,053. The stock has a market cap of $52,866.66, a price-to-earnings ratio of 5.69, a PEG ratio of 0.72 and a beta of 1.63. General Motors has a 52-week low of $31.92 and a 52-week high of $46.76. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 1.86.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 EPS for the quarter, topping the consensus estimate of $1.34 by $0.31. The company had revenue of $34.48 billion for the quarter, compared to analyst estimates of $34.28 billion. General Motors had a positive return on equity of 22.86% and a negative net margin of 2.58%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. sell-side analysts anticipate that General Motors will post 6.25 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Thursday, March 8th. General Motors’s payout ratio is currently 22.96%.
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About General Motors
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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