Cinctive Capital Management LP Raises Stock Holdings in General Motors (NYSE:GM)

Cinctive Capital Management LP grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1,325.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,718 shares of the auto manufacturer’s stock after acquiring an additional 168,039 shares during the quarter. Cinctive Capital Management LP’s holdings in General Motors were worth $8,103,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Coastwise Capital Group LLC grew its position in General Motors by 18.9% in the 3rd quarter. Coastwise Capital Group LLC now owns 15,007 shares of the auto manufacturer’s stock worth $673,000 after purchasing an additional 2,382 shares during the period. Ascent Group LLC purchased a new position in shares of General Motors in the 3rd quarter worth $1,422,000. Benjamin Edwards Inc. grew its holdings in shares of General Motors by 138.6% in the third quarter. Benjamin Edwards Inc. now owns 13,722 shares of the auto manufacturer’s stock worth $615,000 after acquiring an additional 7,970 shares during the period. Point72 Hong Kong Ltd increased its position in General Motors by 15,451.7% during the third quarter. Point72 Hong Kong Ltd now owns 197,351 shares of the auto manufacturer’s stock valued at $8,849,000 after acquiring an additional 196,082 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in General Motors by 1,273.8% in the third quarter. True Wealth Design LLC now owns 838 shares of the auto manufacturer’s stock valued at $38,000 after acquiring an additional 777 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GM shares. Royal Bank of Canada upped their price target on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their target price on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. UBS Group upped their price objective on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research report on Friday, October 11th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $56.92.

General Motors Price Performance

GM stock opened at $55.59 on Monday. The company has a market capitalization of $61.13 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The company’s fifty day moving average price is $51.56 and its 200-day moving average price is $48.10. General Motors has a one year low of $31.52 and a one year high of $61.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.28 EPS. On average, equities analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock valued at $56,509,286 in the last quarter. 0.72% of the stock is currently owned by insiders.

About General Motors

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.