Convergence Investment Partners LLC Has $2.22 Million Holdings in General Motors (NYSE:GM)

Convergence Investment Partners LLC grew its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 69.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,737 shares of the auto manufacturer's stock after purchasing an additional 17,170 shares during the period. Convergence Investment Partners LLC's holdings in General Motors were worth $2,223,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GM. Caisse DE Depot ET Placement DU Quebec increased its holdings in General Motors by 972.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer's stock worth $94,300,000 after purchasing an additional 1,906,964 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer's stock worth $144,655,000 after acquiring an additional 1,779,897 shares during the period. National Bank of Canada FI boosted its position in shares of General Motors by 158.8% during the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer's stock worth $97,374,000 after buying an additional 1,332,450 shares during the period. AustralianSuper Pty Ltd grew its stake in shares of General Motors by 35.8% in the fourth quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer's stock worth $234,364,000 after purchasing an additional 1,159,958 shares in the last quarter. Finally, Ninety One UK Ltd lifted its stake in shares of General Motors by 38.7% in the 4th quarter. Ninety One UK Ltd now owns 4,089,633 shares of the auto manufacturer's stock worth $217,855,000 after acquiring an additional 1,140,569 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GM shares. Sanford C. Bernstein lifted their price target on General Motors from $53.00 to $55.00 and gave the stock a "market perform" rating in a research note on Friday, October 25th. UBS Group raised their price target on General Motors from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. StockNews.com lowered General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a "hold" rating to a "buy" rating and upped their price objective for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Finally, Wells Fargo & Company raised their price target on General Motors from $35.00 to $37.00 and gave the company an "underweight" rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, General Motors currently has an average rating of "Hold" and an average target price of $59.71.

General Motors Price Performance

Shares of GM stock traded down $1.59 during trading hours on Friday, hitting $46.31. 6,773,091 shares of the company's stock were exchanged, compared to its average volume of 10,552,047. 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 stock has a market cap of $46.07 billion, a price-to-earnings ratio of 7.53, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. General Motors has a 52 week low of $38.94 and a 52 week high of $61.24. The stock's 50-day moving average is $50.81 and its 200-day moving average is $50.11.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, research analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.04%. General Motors's dividend payout ratio is currently 7.80%.

Insider Buying and Selling

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The stock was bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares of the company's stock, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

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.