Arrowstreet Capital Limited Partnership Decreases Stock Position in General Motors (NYSE:GM)

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 27.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,784,372 shares of the auto manufacturer’s stock after selling 8,347,526 shares during the period. General Motors makes up about 0.9% of Arrowstreet Capital Limited Partnership’s investment portfolio, making the stock its 11th largest holding. Arrowstreet Capital Limited Partnership’s holdings in General Motors were worth $1,160,453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new stake in shares of General Motors during the fourth quarter valued at $592,321,000. Amundi boosted its holdings in shares of General Motors by 75.5% during the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after acquiring an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC grew its stake in shares of General Motors by 39.8% in 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 acquiring an additional 2,104,528 shares during the period. Raymond James Financial Inc. purchased a new position in shares of General Motors during the fourth quarter valued at approximately $108,366,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in General Motors by 972.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after purchasing an additional 1,906,964 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 1.2 %

Shares of GM stock opened at $46.65 on Friday. The company’s fifty day simple moving average is $48.89 and its two-hundred day simple moving average is $50.56. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The stock has a market cap of $46.42 billion, a P/E ratio of 7.59, a PEG ratio of 0.67 and a beta of 1.42. 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 (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, March 7th. General Motors’s dividend payout ratio is presently 7.80%.

General Motors announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on GM. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Mizuho upped their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and upped their price target for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Finally, UBS Group reaffirmed a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, General Motors presently has an average rating of “Hold” and an average target price of $62.11.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.