Point72 Hong Kong Ltd Increases Stock Position in General Motors (NYSE:GM)

Point72 Hong Kong Ltd boosted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 15,451.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,351 shares of the auto manufacturer’s stock after buying an additional 196,082 shares during the quarter. Point72 Hong Kong Ltd’s holdings in General Motors were worth $8,849,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors in the 2nd quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new position in General Motors in the third quarter valued at about $27,000. Truvestments Capital LLC purchased a new position in General Motors in the third quarter valued at about $27,000. Wellington Shields Capital Management LLC bought a new position in General Motors in the second quarter worth about $28,000. Finally, Fortitude Family Office LLC lifted its position in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 0.2 %

Shares of GM opened at $55.59 on Friday. The stock’s 50-day moving average price is $51.56 and its 200-day moving average price is $48.08. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $61.13 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 0.42 and a beta of 1.40. General Motors has a 52 week low of $31.52 and a 52 week high of $61.24.

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

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.86%. General Motors’s dividend payout ratio (DPR) is currently 5.12%.

Insider Transactions at General Motors

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of General Motors 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 completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. 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 ninety days. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GM. Barclays lifted their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, Wolfe Research assumed coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.92.

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.