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

Levin Capital Strategies L.P. trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 15.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 381,463 shares of the auto manufacturer’s stock after selling 69,515 shares during the quarter. General Motors accounts for 1.9% of Levin Capital Strategies L.P.’s portfolio, making the stock its 19th largest position. Levin Capital Strategies L.P.’s holdings in General Motors were worth $20,321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Duncker Streett & Co. Inc. raised its holdings in shares of General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 498 shares during the period. Metis Global Partners LLC raised its holdings in shares of General Motors by 3.0% during the fourth quarter. Metis Global Partners LLC now owns 37,325 shares of the auto manufacturer’s stock worth $1,988,000 after acquiring an additional 1,085 shares during the period. Providence First Trust Co acquired a new stake in shares of General Motors during the fourth quarter worth $145,000. US Bancorp DE raised its holdings in shares of General Motors by 6.8% during the fourth quarter. US Bancorp DE now owns 108,137 shares of the auto manufacturer’s stock worth $5,760,000 after acquiring an additional 6,838 shares during the period. Finally, Sims Investment Management LLC acquired a new stake in shares of General Motors during the fourth quarter worth $133,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Up 3.3 %

General Motors stock opened at $49.22 on Friday. The firm has a market capitalization of $48.97 billion, a PE ratio of 8.00, a P/E/G ratio of 0.67 and a beta of 1.40. The company’s 50-day moving average is $50.34 and its 200-day moving average is $50.40. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. 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 (NYSE:GM) (TSE:GMM.U) last announced 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%. Sell-side analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

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

General Motors announced that its board has initiated 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 a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GM shares. HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a report on Wednesday, December 11th. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Mizuho lifted 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. Finally, StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.71.

Insider Buying and Selling

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the acquisition, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by insiders.

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.