General Motors (NYSE:GM) Position Lessened by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 61.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 203,133 shares of the auto manufacturer’s stock after selling 319,751 shares during the period. ExodusPoint Capital Management LP’s holdings in General Motors were worth $10,821,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Public Sector Pension Investment Board increased its holdings in General Motors by 11.2% in the third quarter. Public Sector Pension Investment Board now owns 46,744 shares of the auto manufacturer’s stock worth $2,096,000 after buying an additional 4,700 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of General Motors by 138.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 13,722 shares of the auto manufacturer’s stock worth $615,000 after purchasing an additional 7,970 shares during the last quarter. IHT Wealth Management LLC raised its holdings in shares of General Motors by 79.2% during the 3rd quarter. IHT Wealth Management LLC now owns 15,136 shares of the auto manufacturer’s stock valued at $679,000 after purchasing an additional 6,689 shares in the last quarter. Redwood Investment Management LLC lifted its stake in shares of General Motors by 4.1% in the 3rd quarter. Redwood Investment Management LLC now owns 31,283 shares of the auto manufacturer’s stock valued at $1,454,000 after purchasing an additional 1,224 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in General Motors by 158.8% in the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after purchasing an additional 1,332,450 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GM. Cowen began coverage on General Motors in a research report on Thursday, March 6th. They issued a “buy” rating for the company. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Piper Sandler increased their price target on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. reduced their price objective on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Finally, HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.11.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares of the company’s stock, 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 SEC, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

General Motors Trading Down 3.7 %

Shares of General Motors stock opened at $44.22 on Friday. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24. The firm has a market capitalization of $44.00 billion, a PE ratio of 7.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The company’s fifty day moving average price is $48.22 and its two-hundred day moving average price is $50.55.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. On average, analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.09%. The ex-dividend date was Friday, March 7th. General Motors’s dividend payout ratio is 7.80%.

General Motors declared that its board has initiated a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.