Sunpointe LLC Purchases 957 Shares of General Motors (NYSE:GM)

Sunpointe LLC boosted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 20.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,591 shares of the auto manufacturer’s stock after purchasing an additional 957 shares during the period. Sunpointe LLC’s holdings in General Motors were worth $298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in shares of General Motors during the fourth quarter valued at approximately $25,000. Crews Bank & Trust purchased a new position in General Motors during the 4th quarter valued at $26,000. Catalyst Capital Advisors LLC bought a new position in General Motors in the 3rd quarter valued at $27,000. Truvestments Capital LLC purchased a new stake in General Motors in the third quarter worth $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of General Motors during the fourth quarter worth $28,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of GM stock opened at $47.77 on Thursday. General Motors has a fifty-two week low of $38.13 and a fifty-two week high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The firm has a market capitalization of $47.53 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 0.68 and a beta of 1.40. The stock’s 50-day simple moving average is $50.90 and its 200-day simple moving average is $50.13.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.00%. General Motors’s payout ratio is presently 7.80%.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rory Harvey sold 8,919 shares of the business’s 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

GM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and raised their price target for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. UBS Group raised their price objective on General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Wedbush upped their target price on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Barclays raised their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $59.71.

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.