Caisse DE Depot ET Placement DU Quebec Sells 1,729,176 Shares of General Motors (NYSE:GM)

Caisse DE Depot ET Placement DU Quebec lowered its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 82.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 373,860 shares of the auto manufacturer's stock after selling 1,729,176 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in General Motors were worth $19,916,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in General Motors by 19.7% in the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer's stock worth $488,000 after acquiring an additional 1,510 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of General Motors in the fourth quarter worth about $25,404,000. SYM FINANCIAL Corp acquired a new position in shares of General Motors during the 4th quarter worth about $474,000. Asset Management One Co. Ltd. boosted its stake in General Motors by 9.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer's stock valued at $25,178,000 after purchasing an additional 39,474 shares during the period. Finally, Avantra Family Wealth Inc. acquired a new stake in General Motors in the 4th quarter valued at approximately $1,044,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. TD Cowen began coverage on General Motors in a research report on Friday, March 7th. They issued a "buy" rating and a $105.00 price objective for the company. Citigroup assumed coverage on shares of General Motors in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective for the company. in a research report on Monday, April 14th. UBS Group decreased their target price on General Motors from $51.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, Wedbush reduced their target price on General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $54.22.

General Motors Price Performance

Shares of NYSE GM traded up $0.07 during trading on Tuesday, reaching $45.45. The company had a trading volume of 9,631,551 shares, compared to its average volume of 13,389,896. The stock has a market cap of $43.92 billion, a PE ratio of 7.39, a PEG ratio of 0.67 and a beta of 1.36. General Motors has a 52 week low of $38.96 and a 52 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 business's 50 day moving average price is $46.70 and its 200-day moving average price is $50.22.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to analysts' expectations of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.62 EPS. Analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.32%. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is currently 8.65%.

General Motors announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

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.