Edgestream Partners L.P. Buys 51,777 Shares of General Motors (NYSE:GM)

Edgestream Partners L.P. boosted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 122.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,079 shares of the auto manufacturer’s stock after buying an additional 51,777 shares during the period. Edgestream Partners L.P.’s holdings in General Motors were worth $5,012,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GM. Golden State Wealth Management LLC acquired a new position in shares of General Motors during the fourth quarter valued at about $25,000. Crews Bank & Trust bought a new position in General Motors in the 4th quarter valued at about $26,000. Compass Planning Associates Inc acquired a new position in General Motors during the 4th quarter valued at about $27,000. Duncker Streett & Co. Inc. increased its holdings in General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of General Motors in the fourth quarter worth approximately $28,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GM. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research report on Wednesday, December 11th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, TD Cowen assumed coverage on shares of General Motors in a research report on Friday. They set a “buy” rating and a $105.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.22.

General Motors Stock Performance

NYSE GM opened at $47.39 on Friday. The firm has a market cap of $47.16 billion, a P/E ratio of 7.71, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The company’s 50 day moving average is $49.70 and its 200-day moving average is $50.44. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24.

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 (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 year.

General Motors announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is presently 7.80%.

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.