Renaissance Technologies LLC Sells 1,583,117 Shares of General Motors (NYSE:GM)

Renaissance Technologies LLC lowered its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 62.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 933,305 shares of the auto manufacturer's stock after selling 1,583,117 shares during the quarter. Renaissance Technologies LLC owned approximately 0.09% of General Motors worth $49,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GM. Golden State Wealth Management LLC bought a new stake in General Motors in the 4th quarter worth about $25,000. Crews Bank & Trust purchased a new stake in shares of General Motors in the fourth quarter worth about $26,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors during the 4th quarter valued at about $27,000. Whittier Trust Co. raised its stake 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 acquiring an additional 425 shares during the period. Finally, Duncker Streett & Co. Inc. boosted its stake in shares of General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after purchasing an additional 498 shares during the period. Institutional investors own 92.67% of the company's stock.

Insider Activity

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now directly owns 13,714 shares of the company's stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company's stock.

General Motors Stock Up 0.5 %

NYSE GM traded up $0.23 during mid-day trading on Wednesday, hitting $44.77. The company's stock had a trading volume of 2,950,126 shares, compared to its average volume of 13,527,474. The firm has a market capitalization of $44.55 billion, a price-to-earnings ratio of 7.28, a PEG ratio of 0.67 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company's 50 day simple moving average is $47.24 and its 200 day simple moving average is $50.34.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating 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%. Analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its board has approved a share repurchase plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. General Motors's dividend payout ratio (DPR) is presently 7.80%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GM. Mizuho decreased their price objective on General Motors from $63.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. The Goldman Sachs Group decreased their price target on General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company reaffirmed an "underweight" rating on shares of General Motors in a report on Monday, February 3rd. Sanford C. Bernstein lowered General Motors from a "market perform" rating to an "underperform" rating and decreased their price objective for the company from $50.00 to $35.00 in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. decreased their price objective on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, General Motors currently has an average rating of "Hold" and a consensus price target of $56.72.

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.