Edgestream Partners L.P. Buys 51,777 Shares of General Motors (NYSE:GM)

Edgestream Partners L.P. lifted its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 122.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,079 shares of the auto manufacturer's stock after purchasing an additional 51,777 shares during the period. Edgestream Partners L.P.'s holdings in General Motors were worth $5,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. ACR Alpine Capital Research LLC lifted its holdings in shares of General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock valued at $394,060,000 after purchasing an additional 2,104,528 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in General Motors during the 4th quarter worth about $108,366,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in General Motors by 972.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer's stock valued at $94,300,000 after buying an additional 1,906,964 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of General Motors by 123.1% in the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer's stock worth $144,655,000 after buying an additional 1,779,897 shares during the period. Finally, National Bank of Canada FI increased its position in shares of General Motors by 158.8% in 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 acquiring an additional 1,332,450 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

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General Motors Stock Down 0.8 %

Shares of GM stock traded down $0.37 on Wednesday, hitting $47.92. The company's stock had a trading volume of 7,567,840 shares, compared to its average volume of 12,176,038. 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 capitalization of $47.68 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 0.67 and a beta of 1.42. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. The firm's fifty day moving average price is $49.49 and its 200-day moving average price is $50.51.

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

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors's payout ratio is currently 7.80%.

General Motors announced that its board has initiated a share buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding 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 often a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

GM has been the subject of a number of recent analyst reports. TD Cowen initiated coverage on shares of General Motors in a research note on Friday, March 7th. They issued a "buy" rating and a $105.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised General Motors from a "hold" rating to a "buy" rating and raised their target price for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Mizuho upped their price target on General Motors from $59.00 to $62.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Morgan Stanley raised General Motors from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Finally, Hsbc Global Res cut General Motors from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $62.89.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares of the company's stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company's stock.

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.