Bronson Point Management LLC purchased a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 175,000 shares of the auto manufacturer’s stock, valued at approximately $7,173,000. General Motors comprises about 1.9% of Bronson Point Management LLC’s portfolio, making the stock its 20th largest position.
A number of other institutional investors have also recently made changes to their positions in GM. Icon Wealth Partners LLC bought a new stake in General Motors in the 4th quarter worth $106,000. Fieldpoint Private Securities LLC bought a new stake in General Motors in the 3rd quarter worth $119,000. Cerebellum GP LLC bought a new stake in General Motors in the 4th quarter worth $123,000. Independence Bank of Kentucky bought a new stake in General Motors in the 4th quarter worth $129,000. Finally, Stumpf Capital Management LLC bought a new stake in General Motors in the 4th quarter worth $131,000. 72.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Motors (NYSE GM) opened at $37.84 on Friday. General Motors has a 52 week low of $31.92 and a 52 week high of $46.76. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.76 and a current ratio of 0.89. The company has a market cap of $53,000.00, a PE ratio of 7.35, a P/E/G ratio of 0.72 and a beta of 1.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.02%. The ex-dividend date is Thursday, March 8th. General Motors’s payout ratio is currently 29.51%.
A number of equities research analysts have issued reports on the stock. Morgan Stanley reissued a “hold” rating and issued a $43.00 price target on shares of General Motors in a report on Tuesday, November 28th. Zacks Investment Research raised shares of General Motors from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Bank of America reaffirmed a “buy” rating and set a $57.00 target price on shares of General Motors in a research note on Tuesday, November 28th. Guggenheim raised shares of General Motors from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Monday, November 20th. Finally, Barclays reaffirmed a “buy” rating and set a $61.00 target price on shares of General Motors in a research note on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. General Motors has a consensus rating of “Buy” and a consensus target price of $44.28.
In other General Motors news, Director Retiree Medical Benefits T. Uaw sold 40,000,000 shares of General Motors stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $39.71, for a total value of $1,588,400,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles K. Stevens III sold 35,000 shares of General Motors stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $40.88, for a total transaction of $1,430,800.00. Following the completion of the transaction, the chief financial officer now directly owns 26,052 shares of the company’s stock, valued at $1,065,005.76. The disclosure for this sale can be found here. Insiders have sold 40,289,848 shares of company stock worth $1,600,694,061 in the last three months. 0.04% of the stock is currently owned by insiders.
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General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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