Point72 Asset Management L.P. Sells 96,107 Shares of General Motors (NYSE:GM)

Point72 Asset Management L.P. trimmed its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 800,140 shares of the auto manufacturer’s stock after selling 96,107 shares during the quarter. Point72 Asset Management L.P. owned 0.06% of General Motors worth $45,976,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Eaton Vance Management raised its stake in shares of General Motors by 3.6% during the 1st quarter. Eaton Vance Management now owns 1,754,532 shares of the auto manufacturer’s stock valued at $100,816,000 after purchasing an additional 60,713 shares during the period. Amundi Asset Management US Inc. increased its stake in General Motors by 139.5% in the 1st quarter. Amundi Asset Management US Inc. now owns 3,859,877 shares of the auto manufacturer’s stock worth $221,790,000 after acquiring an additional 2,248,337 shares during the last quarter. State of Wisconsin Investment Board increased its stake in General Motors by 6.0% in the 1st quarter. State of Wisconsin Investment Board now owns 1,306,550 shares of the auto manufacturer’s stock worth $75,074,000 after acquiring an additional 73,993 shares during the last quarter. Caxton Associates LP bought a new position in General Motors in the 1st quarter worth about $316,000. Finally, Morgan Stanley increased its stake in General Motors by 31.7% in the 1st quarter. Morgan Stanley now owns 11,732,480 shares of the auto manufacturer’s stock worth $674,148,000 after acquiring an additional 2,820,610 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Several brokerages have recently commented on GM. Deutsche Bank Aktiengesellschaft increased their price objective on General Motors from $67.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, May 6th. JPMorgan Chase & Co. increased their price objective on General Motors from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, June 4th. Zacks Investment Research lowered General Motors from a “hold” rating to a “strong sell” rating and set a $51.00 price objective on the stock. in a research report on Tuesday, April 13th. Evercore ISI increased their price objective on General Motors from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, April 14th. They noted that the move was a valuation call. Finally, Wedbush began coverage on General Motors in a research report on Thursday, July 8th. They set an “outperform” rating and a $85.00 price objective on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nineteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $67.64.

In other General Motors news, EVP Matthew Tsien sold 192,986 shares of General Motors stock in a transaction on Friday, June 11th. The stock was sold at an average price of $62.83, for a total value of $12,125,310.38. Following the completion of the sale, the executive vice president now owns 237,520 shares of the company’s stock, valued at approximately $14,923,381.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Randall D. Mott sold 6,000 shares of General Motors stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $64.01, for a total value of $384,060.00. Following the completion of the sale, the executive vice president now directly owns 122,113 shares of the company’s stock, valued at approximately $7,816,453.13. The disclosure for this sale can be found here. In the last three months, insiders sold 215,975 shares of company stock valued at $13,595,817. Corporate insiders own 0.40% of the company’s stock.

GM opened at $56.35 on Thursday. General Motors has a 52 week low of $24.44 and a 52 week high of $64.30. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.40. The stock has a market cap of $81.75 billion, a PE ratio of 9.23, a PEG ratio of 0.86 and a beta of 1.32. The company has a 50 day moving average price of $58.76.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Wednesday, May 5th. The auto manufacturer reported $2.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $1.28. General Motors had a return on equity of 19.59% and a net margin of 7.49%. The company had revenue of $32.47 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the company earned $0.62 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts predict that General Motors will post 6.62 EPS for the current fiscal year.

General Motors Company Profile

General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.

Further Reading: Cost of equity and a company’s balance sheet

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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