Trexquant Investment LP Lowers Position in General Motors (NYSE:GM)

Trexquant Investment LP trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 75.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 241,202 shares of the auto manufacturer’s stock after selling 748,384 shares during the period. Trexquant Investment LP’s holdings in General Motors were worth $12,849,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in shares of General Motors in the 4th quarter worth about $25,000. Crews Bank & Trust bought a new stake in General Motors during the fourth quarter worth about $26,000. Compass Planning Associates Inc purchased a new stake in General Motors in the fourth quarter worth about $27,000. Duncker Streett & Co. Inc. increased its stake in shares of General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing 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 fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 425 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were purchased 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. This represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on GM shares. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. The Goldman Sachs Group set a $73.00 price target on General Motors in a report on Saturday, March 1st. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Piper Sandler raised their price objective on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and upped their target price for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.11.

General Motors Stock Up 0.3 %

General Motors stock opened at $47.18 on Wednesday. General Motors has a one year low of $38.96 and a one year high of $61.24. The stock has a fifty day moving average of $48.68 and a 200 day moving average of $50.62. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a market cap of $46.94 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating 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, sell-side analysts predict that General Motors will post 11.44 EPS for the current year.

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

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.02%. General Motors’s payout ratio is presently 7.80%.

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.