Polar Asset Management Partners Inc. Sells 34,785 Shares of General Motors (NYSE:GM)

Polar Asset Management Partners Inc. cut its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 55.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,495 shares of the auto manufacturer's stock after selling 34,785 shares during the period. Polar Asset Management Partners Inc.'s holdings in General Motors were worth $1,518,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of General Motors during the fourth quarter worth $25,000. Crews Bank & Trust acquired a new stake in shares of General Motors during the fourth quarter worth $26,000. Measured Risk Portfolios Inc. acquired a new stake in shares of General Motors during the fourth quarter worth $27,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors during the fourth quarter worth $27,000. Finally, Whittier Trust Co. grew its stake in shares of General Motors by 551.9% during the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after purchasing an additional 425 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Mizuho boosted their target price on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Wells Fargo & Company reissued an "underweight" rating on shares of General Motors in a research note on Monday, February 3rd. TD Cowen assumed coverage on General Motors in a research note on Friday, March 7th. They issued a "buy" rating and a $105.00 target price for the company. Wall Street Zen cut General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, Citigroup assumed coverage on General Motors in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 target price for the company. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $54.56.

General Motors Stock Up 2.0%

GM traded up $0.99 on Friday, hitting $49.58. 17,702,817 shares of the company were exchanged, compared to its average volume of 13,240,778. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a market cap of $47.67 billion, a PE ratio of 8.06, a PEG ratio of 0.67 and a beta of 1.36. 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 stock's fifty day moving average is $46.80 and its 200-day moving average is $49.63.

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

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from General Motors's previous quarterly dividend of $0.12. General Motors's payout ratio is 8.65%.

General Motors declared that its board has approved a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management 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.