Point72 Asia Singapore Pte. Ltd. Trims Stake in General Motors (NYSE:GM)

Point72 Asia Singapore Pte. Ltd. lessened its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 12.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,492 shares of the auto manufacturer's stock after selling 5,870 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in General Motors were worth $2,157,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GM. Golden State Wealth Management LLC purchased a new position in shares of General Motors during the 4th quarter worth approximately $25,000. Crews Bank & Trust purchased a new stake in General Motors in the fourth quarter worth $26,000. Measured Risk Portfolios Inc. purchased a new position in General Motors during the fourth quarter valued at $27,000. Compass Planning Associates Inc purchased a new position in General Motors during the fourth quarter valued at $27,000. Finally, Whittier Trust Co. grew its position in shares of General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after buying an additional 425 shares during the period. Institutional investors own 92.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lowered their price target on shares of General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. decreased their target price on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Citigroup assumed coverage on General Motors in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price target on the stock. UBS Group reduced their price objective on General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft cut General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective for the company. in a research note on Monday, April 14th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $54.56.

General Motors Stock Performance

Shares of GM stock traded up $0.44 during mid-day trading on Tuesday, reaching $50.47. 2,761,816 shares of the company's stock traded hands, compared to its average volume of 13,416,866. 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 firm has a market capitalization of $48.52 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The firm has a 50 day moving average price of $46.89 and a two-hundred day moving average price of $50.00.

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

General Motors declared that its board has authorized a stock 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 buy up to 12.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 6th. This represents a $0.60 annualized dividend and a dividend yield of 1.19%. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio (DPR) is currently 8.65%.

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.