Convergence Investment Partners LLC Has $1.71 Million Stock Position in General Motors Company (NYSE:GM)

Convergence Investment Partners LLC lessened its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 13.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,291 shares of the auto manufacturer's stock after selling 5,446 shares during the quarter. Convergence Investment Partners LLC's holdings in General Motors were worth $1,707,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in General Motors during the 4th quarter worth $25,404,000. Cassia Capital Partners LLC boosted its holdings in General Motors by 63.0% during the 1st quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock worth $879,000 after acquiring an additional 7,221 shares during the last quarter. AustralianSuper Pty Ltd boosted its holdings in General Motors by 38.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after acquiring an additional 1,712,033 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of General Motors in the 1st quarter worth about $312,000. Finally, OMNI 360 Wealth Inc. bought a new stake in shares of General Motors during the first quarter valued at about $363,000. Institutional investors own 92.67% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on GM. Bank of America decreased their price objective on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday. Royal Bank Of Canada raised their price objective on General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Barclays lifted their price target on General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Industrial Alliance Securities set a $70.00 price target on General Motors in a research report on Friday, July 11th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $48.00 price objective (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Four analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $56.35.

General Motors Stock Up 2.0%

GM traded up $1.04 during trading on Friday, hitting $53.38. The company had a trading volume of 6,483,783 shares, compared to its average volume of 10,352,842. The company has a market capitalization of $50.82 billion, a PE ratio of 8.47, a PEG ratio of 1.10 and a beta of 1.32. General Motors Company has a one year low of $38.96 and a one year high of $61.24. The firm's 50-day moving average price is $50.23 and its 200 day moving average price is $48.73. The company has a quick ratio of 1.04, a current ratio of 1.22 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same period in the previous year, the business earned $3.06 EPS. The company's revenue was down 1.8% compared to the same quarter last year. As a group, equities analysts expect that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a $0.15 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.12%. General Motors's dividend payout ratio (DPR) is currently 9.52%.

About General Motors

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.