Covalis Capital LLP Reduces Stake in General Motors (NYSE:GM)

Covalis Capital LLP lowered its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 20.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 386,812 shares of the auto manufacturer's stock after selling 101,097 shares during the period. General Motors accounts for about 3.0% of Covalis Capital LLP's holdings, making the stock its 9th biggest position. Covalis Capital LLP's holdings in General Motors were worth $20,605,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in shares of General Motors in the fourth quarter worth approximately $25,000. Crews Bank & Trust purchased a new position in General Motors in the 4th quarter worth approximately $26,000. Compass Planning Associates Inc bought a new position in shares of General Motors in the 4th quarter worth $27,000. Duncker Streett & Co. Inc. raised its position in shares of General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 498 shares in the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after acquiring an additional 425 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Up 1.5 %

General Motors stock traded up $0.68 during trading hours on Wednesday, hitting $45.84. 8,987,549 shares of the stock traded hands, compared to its average volume of 13,454,959. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a market cap of $45.61 billion, a PE ratio of 7.45, a PEG ratio of 0.67 and a beta of 1.27. The firm's 50-day moving average price is $46.97 and its two-hundred day moving average price is $50.32. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

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 for the quarter, topping 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%. On average, research analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.05%. The ex-dividend date was Friday, March 7th. General Motors's payout ratio is currently 7.80%.

General Motors declared that its board has initiated a stock repurchase program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

GM has been the topic of a number of research analyst reports. UBS Group reissued a "neutral" rating and issued a $51.00 target price (down previously from $64.00) on shares of General Motors in a research note on Thursday, April 10th. The Goldman Sachs Group reduced their price objective on General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. StockNews.com downgraded General Motors from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Wells Fargo & Company reiterated an "underweight" rating on shares of General Motors in a research report on Monday, February 3rd. Finally, Sanford C. Bernstein lowered shares of General Motors from a "market perform" rating to an "underperform" rating and lowered their price objective for the stock from $50.00 to $35.00 in a report on Monday, April 7th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $54.83.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was acquired at an average price 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 $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.