Convergence Investment Partners LLC Acquires 17,170 Shares of General Motors (NYSE:GM)

Convergence Investment Partners LLC increased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 69.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,737 shares of the auto manufacturer’s stock after acquiring an additional 17,170 shares during the quarter. Convergence Investment Partners LLC’s holdings in General Motors were worth $2,223,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in General Motors during the fourth quarter worth about $25,000. Crews Bank & Trust bought a new position in General Motors during the fourth quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in General Motors in the 4th quarter valued at about $28,000. Sugar Maple Asset Management LLC bought a new position in General Motors in the 4th quarter valued at about $31,000. Finally, Catalyst Capital Advisors LLC bought a new position in General Motors in the 3rd quarter valued at about $27,000. 92.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Sanford C. Bernstein raised their target price on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Mizuho raised their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. raised their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Wedbush raised their price target on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.71.

General Motors Stock Down 0.5 %

NYSE:GM opened at $48.14 on Wednesday. The firm’s 50 day simple moving average is $50.98 and its 200 day simple moving average is $50.14. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a one year low of $38.13 and a one year high of $61.24. The company has a market cap of $47.89 billion, a PE ratio of 7.83, a P/E/G ratio of 0.68 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 EPS for the quarter, topping 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, research analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be given 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 dividend yield of 1.00%. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction on 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 of the company’s stock, valued at $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.