GAMMA Investing LLC Invests $285,000 in General Motors (NYSE:GM)

GAMMA Investing LLC bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,339 shares of the auto manufacturer’s stock, valued at approximately $285,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its stake in General Motors by 18.5% during the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after acquiring an additional 74,194 shares during the period. Cerity Partners LLC boosted its holdings in shares of General Motors by 361.1% in the 4th quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after purchasing an additional 93,754 shares in the last quarter. Foundry Partners LLC boosted its holdings in shares of General Motors by 15.0% in the 3rd quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock valued at $12,992,000 after purchasing an additional 51,336 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of General Motors by 10.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock valued at $4,859,000 after purchasing an additional 14,002 shares in the last quarter. Finally, AM Squared Ltd boosted its holdings in shares of General Motors by 195.0% in the 4th quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock valued at $1,483,000 after purchasing an additional 27,300 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

GM stock opened at $45.62 on Friday. The company has a market capitalization of $52.05 billion, a P/E ratio of 5.58, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16. General Motors has a 52-week low of $26.30 and a 52-week high of $46.04. The business has a 50-day simple moving average of $42.13 and a two-hundred day simple moving average of $36.19.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the previous year, the business earned $2.21 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. Research analysts expect that General Motors will post 9.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.05%. General Motors’s payout ratio is 5.87%.

Insider Activity at General Motors

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,248 shares of company stock worth $3,614,078. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

GM has been the topic of several recent research reports. Tigress Financial raised their price objective on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a report on Thursday, February 15th. Sanford C. Bernstein initiated coverage on General Motors in a report on Thursday. They set an “outperform” rating and a $55.00 price objective on the stock. Wedbush lifted their target price on General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company lifted their target price on General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Wednesday. Finally, StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.38.

About General Motors

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.