Edgestream Partners L.P. Purchases 51,777 Shares of General Motors (NYSE:GM)

Edgestream Partners L.P. grew its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 122.4% in the 4th quarter, HoldingsChannel reports. The firm owned 94,079 shares of the auto manufacturer’s stock after acquiring an additional 51,777 shares during the quarter. Edgestream Partners L.P.’s holdings in General Motors were worth $5,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in General Motors in the 4th quarter worth approximately $25,000. Crews Bank & Trust bought a new stake in shares of General Motors in the 4th quarter worth approximately $26,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors in the 4th quarter valued at $27,000. Duncker Streett & Co. Inc. grew its holdings in shares of General Motors by 9,960.0% during the 4th 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 during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in General Motors in the 4th quarter worth $28,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is owned by corporate insiders.

General Motors Stock Performance

Shares of General Motors stock opened at $47.39 on Friday. General Motors has a 12 month low of $38.94 and a 12 month high of $61.24. The firm has a market capitalization of $47.16 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The business has a fifty day simple moving average of $49.70 and a two-hundred day simple moving average of $50.44.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) 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, equities analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

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

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. General Motors’s payout ratio is currently 7.80%.

Wall Street Analyst Weigh In

GM has been the subject of several analyst reports. UBS Group restated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and increased their price objective for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Mizuho lifted their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $62.22.

General Motors 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.