General Motors (NYSE:GM) Stake Increased by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 17.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 18,200 shares of the auto manufacturer’s stock after buying an additional 2,672 shares during the quarter. GAMMA Investing LLC’s holdings in General Motors were worth $970,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new position in General Motors during the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors during the third quarter worth $27,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors during the second quarter worth $28,000. Truvestments Capital LLC acquired a new position in shares of General Motors in the 3rd quarter valued at about $27,000. Finally, Fairscale Capital LLC bought a new stake in shares of General Motors during the 2nd quarter valued at about $36,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

General Motors stock opened at $51.77 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The company has a market cap of $56.93 billion, a P/E ratio of 5.52, a price-to-earnings-growth ratio of 0.40 and a beta of 1.42. General Motors has a fifty-two week low of $34.32 and a fifty-two week high of $61.24. The firm’s 50 day simple moving average is $53.95 and its 200-day simple moving average is $49.29.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter last year, the firm posted $2.28 earnings per share. General Motors’s revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Insider Buying and Selling

In other news, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the transaction, the executive vice president now owns 122,465 shares in the company, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,030,475 shares of company stock worth $56,509,286. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the topic of several recent research reports. Royal Bank of Canada raised their price target on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company dropped their price objective on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. Wedbush boosted their price target on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.70.

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.