Stone Ridge Asset Management LLC bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 100,000 shares of the auto manufacturer’s stock, valued at approximately $4,099,000.
Several other hedge funds have also recently bought and sold shares of the company. Bronson Point Management LLC purchased a new stake in shares of General Motors during the 4th quarter worth about $7,173,000. Credit Capital Investments LLC purchased a new stake in shares of General Motors during the 4th quarter worth about $205,000. QS Investors LLC boosted its stake in shares of General Motors by 15.5% during the 4th quarter. QS Investors LLC now owns 218,369 shares of the auto manufacturer’s stock worth $8,951,000 after acquiring an additional 29,323 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of General Motors during the 4th quarter worth about $1,260,000. Finally, Franklin Resources Inc. lifted its stake in General Motors by 26.7% in the 4th quarter. Franklin Resources Inc. now owns 21,868,641 shares of the auto manufacturer’s stock valued at $896,398,000 after buying an additional 4,611,023 shares in the last quarter. 72.96% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the stock. Vetr lowered shares of General Motors from a “hold” rating to a “sell” rating and set a $40.25 price target on the stock. in a research note on Tuesday, February 27th. Goldman Sachs Group set a $33.00 price target on shares of General Motors and gave the company a “sell” rating in a research note on Tuesday, February 6th. Royal Bank of Canada raised shares of General Motors from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $51.00 to $52.00 in a research note on Tuesday, December 19th. Barclays reaffirmed a “buy” rating and issued a $60.00 price target on shares of General Motors in a research note on Sunday, January 21st. Finally, Bank of America raised their price target on shares of General Motors from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $44.28.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.31. General Motors had a negative net margin of 2.58% and a positive return on equity of 22.86%. The business had revenue of $34.48 billion for the quarter, compared to analyst estimates of $34.28 billion. During the same period last year, the company posted $1.28 EPS. The business’s revenue was down 7.7% on a year-over-year basis. sell-side analysts predict that General Motors will post 6.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.02%. General Motors’s dividend payout ratio is currently -52.59%.
In other news, insider Barry L. Engle II sold 50,443 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $2,269,935.00. Following the completion of the sale, the insider now owns 57,091 shares in the company, valued at approximately $2,569,095. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas S. Timko sold 8,461 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 33,519 shares of the company’s stock, valued at approximately $1,409,809.14. The disclosure for this sale can be found here. Insiders have sold a total of 40,289,848 shares of company stock valued at $1,600,694,061 in the last 90 days. Insiders own 0.04% of the company’s stock.
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General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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