Versor Investments LP Sells 24,400 Shares of General Motors (NYSE:GM)

Versor Investments LP lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 70.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 10,200 shares of the auto manufacturer’s stock after selling 24,400 shares during the quarter. Versor Investments LP’s holdings in General Motors were worth $543,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Golden State Wealth Management LLC purchased a new position in shares of General Motors during the fourth quarter valued at approximately $25,000. Crews Bank & Trust bought a new stake in General Motors in the 4th quarter worth approximately $26,000. Catalyst Capital Advisors LLC purchased a new stake in General Motors during the 3rd quarter valued at $27,000. Truvestments Capital LLC bought a new position in shares of General Motors during the 3rd quarter valued at $27,000. Finally, Compass Planning Associates Inc purchased a new position in shares of General Motors in the 4th quarter worth $27,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and increased their target price for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research report on Wednesday, December 11th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Finally, StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.71.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by corporate insiders.

General Motors Trading Up 3.3 %

Shares of GM opened at $49.22 on Friday. General Motors has a 1 year low of $38.94 and a 1 year high of $61.24. The company has a 50 day simple moving average of $50.34 and a two-hundred day simple moving average of $50.40. 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 price-to-earnings-growth ratio of 0.67 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate 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 expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. General Motors’s dividend payout ratio is currently 7.80%.

General Motors declared that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.