Levin Capital Strategies L.P. Sells 69,515 Shares of General Motors (NYSE:GM)

Levin Capital Strategies L.P. lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 15.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 381,463 shares of the auto manufacturer’s stock after selling 69,515 shares during the period. General Motors comprises 1.9% of Levin Capital Strategies L.P.’s portfolio, making the stock its 19th biggest holding. Levin Capital Strategies L.P.’s holdings in General Motors were worth $20,321,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in GM. Pinnacle Associates Ltd. lifted its stake in shares of General Motors by 10.5% in the third quarter. Pinnacle Associates Ltd. now owns 41,753 shares of the auto manufacturer’s stock valued at $1,872,000 after buying an additional 3,980 shares during the period. SteelPeak Wealth LLC acquired a new position in General Motors in the third quarter worth about $251,000. US Bancorp DE raised its position in General Motors by 12.3% in the third quarter. US Bancorp DE now owns 101,299 shares of the auto manufacturer’s stock worth $4,542,000 after purchasing an additional 11,068 shares in the last quarter. Gladstone Institutional Advisory LLC raised its position in General Motors by 3.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 14,150 shares of the auto manufacturer’s stock worth $635,000 after purchasing an additional 478 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in General Motors by 20.4% in the third quarter. Farther Finance Advisors LLC now owns 6,021 shares of the auto manufacturer’s stock worth $270,000 after purchasing an additional 1,019 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. UBS Group reissued a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Finally, Mizuho raised their price objective on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $59.71.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of General Motors stock opened at $49.22 on Friday. 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 firm has a market cap of $48.97 billion, a P/E ratio of 8.00, a P/E/G ratio of 0.67 and a beta of 1.40. The firm has a 50 day simple moving average of $50.34 and a 200 day simple moving average of $50.40. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data 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%. Sell-side analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. General Motors’s payout ratio is presently 7.80%.

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

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.