General Motors Company (NYSE:GM) Position Lessened by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 13.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,291 shares of the auto manufacturer’s stock after selling 5,446 shares during the period. Convergence Investment Partners LLC’s holdings in General Motors were worth $1,707,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Measured Risk Portfolios Inc. acquired a new stake in shares of General Motors in the fourth quarter valued at about $27,000. Whittier Trust Co. grew its position in shares of General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 425 shares during the last quarter. Transce3nd LLC acquired a new stake in shares of General Motors in the fourth quarter valued at about $34,000. Ossiam acquired a new stake in shares of General Motors in the fourth quarter valued at about $44,000. Finally, North Capital Inc. acquired a new stake in shares of General Motors in the first quarter valued at about $40,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Performance

GM stock opened at $49.02 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04. The company has a 50 day moving average price of $50.02 and a 200 day moving average price of $48.69. General Motors Company has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The stock has a market capitalization of $47.13 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 1.43 and a beta of 1.32.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The firm had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $45.87 billion. During the same quarter in the previous year, the company posted $3.06 EPS. General Motors’s revenue was down 1.8% on a year-over-year basis. Analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Friday, September 5th. General Motors’s dividend payout ratio is presently 8.65%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GM. Citigroup began coverage on General Motors in a research report on Wednesday, April 23rd. They set a “buy” rating and a $62.00 target price on the stock. CLSA raised General Motors to a “moderate buy” rating in a report on Monday, July 7th. Piper Sandler reaffirmed a “neutral” rating and set a $48.00 price objective (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their target price on shares of General Motors from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wedbush cut their target price on shares of General Motors from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors presently has a consensus rating of “Hold” and an average target price of $56.35.

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.