Tritonpoint Wealth LLC Invests $209,000 in General Motors (NYSE:GM)

Tritonpoint Wealth LLC acquired a new position in General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 3,926 shares of the auto manufacturer’s stock, valued at approximately $209,000.

Several other hedge funds have also modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in shares of General Motors during the 4th quarter worth approximately $164,000. Caprock Group LLC raised its position in shares of General Motors by 26.0% during the 4th quarter. Caprock Group LLC now owns 37,047 shares of the auto manufacturer’s stock worth $1,974,000 after purchasing an additional 7,645 shares during the last quarter. AA Financial Advisors LLC purchased a new stake in General Motors in the 4th quarter valued at approximately $201,000. Mediolanum International Funds Ltd grew its holdings in General Motors by 905.8% during the 4th quarter. Mediolanum International Funds Ltd now owns 160,667 shares of the auto manufacturer’s stock valued at $8,600,000 after buying an additional 144,693 shares during the last quarter. Finally, Crews Bank & Trust acquired a new position in shares of General Motors in the fourth quarter worth $26,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Down 0.1 %

GM stock opened at $49.46 on Monday. The firm has a market cap of $49.21 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 0.28 and a beta of 1.42. General Motors has a 1-year low of $37.60 and a 1-year high of $61.24. The firm has a fifty day moving average price of $52.64 and a two-hundred day moving average price of $49.95. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 1.03.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Research analysts predict that General Motors will post 11.45 EPS for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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 0.97%. General Motors’s payout ratio is currently 7.80%.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the sale, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 514,344 shares of company stock valued at $28,977,691. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research report on Wednesday, December 11th. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Mizuho lifted their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. raised their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein upped their target price on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, General Motors has a consensus rating of “Hold” and a consensus price target of $61.28.

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.