River Global Investors LLP Trims Stake in General Motors (NYSE:GM)

River Global Investors LLP lowered its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 45.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,713 shares of the auto manufacturer's stock after selling 22,693 shares during the quarter. River Global Investors LLP's holdings in General Motors were worth $1,476,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. ACR Alpine Capital Research LLC grew its stake in 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 worth $394,060,000 after purchasing an additional 2,104,528 shares during the period. Raymond James Financial Inc. bought a new position in shares of General Motors during the 4th quarter worth approximately $108,366,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of 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 buying an additional 1,906,964 shares during the period. Jennison Associates LLC increased its stake 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 valued at $144,655,000 after acquiring an additional 1,779,897 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of General Motors by 158.8% in the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer's stock valued at $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 and hedge funds.

Remove Ads

Analyst Ratings Changes

Several analysts have recently commented on the company. Mizuho raised their target price on General Motors from $59.00 to $62.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Cowen assumed coverage on General Motors in a research note on Thursday, March 6th. They issued a "buy" rating for the company. StockNews.com lowered shares of General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. The Goldman Sachs Group set a $73.00 price objective on General Motors in a research note on Saturday, March 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded General Motors from a "hold" rating to a "buy" rating and increased their target price for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, General Motors has a consensus rating of "Hold" and a consensus target price of $62.89.

General Motors Price Performance

NYSE:GM traded down $0.37 during midday trading on Wednesday, hitting $47.92. The company had a trading volume of 10,036,018 shares, compared to its average volume of 12,243,725. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a 52-week low of $38.94 and a 52-week high of $61.24. The stock's fifty day moving average price is $49.49 and its 200-day moving average price is $50.51. The company has a market capitalization of $47.68 billion, a PE ratio of 7.79, a P/E/G ratio of 0.67 and a beta of 1.42.

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

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued 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 dividend yield of 1.00%. General Motors's dividend payout ratio is currently 7.80%.

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

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares of the company's stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by insiders.

General Motors Company 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.