Renaissance Technologies LLC grew its position in General Motors (NYSE:GM) (TSE:GMM.U) by 171.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,310,000 shares of the auto manufacturer’s stock after buying an additional 3,352,900 shares during the period. Renaissance Technologies LLC owned approximately 0.38% of General Motors worth $217,657,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Icon Wealth Partners LLC bought a new stake in General Motors in the 4th quarter valued at $106,000. Fieldpoint Private Securities LLC bought a new stake in General Motors during the 3rd quarter worth about $119,000. Cerebellum GP LLC bought a new stake in General Motors during the 4th quarter worth about $123,000. Independence Bank of Kentucky bought a new stake in General Motors during the 4th quarter worth about $129,000. Finally, Stumpf Capital Management LLC bought a new stake in General Motors during the 4th quarter worth about $131,000. 73.61% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on GM. Morgan Stanley reaffirmed a “hold” rating and issued a $43.00 target price on shares of General Motors in a report on Tuesday, November 28th. Zacks Investment Research upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Bank of America restated a “buy” rating and set a $57.00 target price on shares of General Motors in a research report on Tuesday, November 28th. Guggenheim upgraded shares of General Motors from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Monday, November 20th. Finally, Barclays reiterated a “buy” rating and set a $61.00 price target on shares of General Motors in a research report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $44.79.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.31. The company had revenue of $34.48 billion for the quarter, compared to analyst estimates of $34.28 billion. General Motors had a negative net margin of 2.58% and a positive return on equity of 22.86%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 earnings per share. analysts expect that General Motors will post 6.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.52 annualized dividend and a yield of 4.03%. General Motors’s dividend payout ratio is currently 29.51%.
In other General Motors news, CAO Thomas S. Timko sold 8,461 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $42.06, for a total value of $355,869.66. Following the completion of the transaction, the chief accounting officer now owns 33,519 shares of the company’s stock, valued at approximately $1,409,809.14. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Retiree Medical Benefits T. Uaw sold 40,000,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $39.71, for a total transaction of $1,588,400,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,289,848 shares of company stock valued at $1,600,694,061. 0.04% of the stock is owned by corporate insiders.
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General Motors Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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