Transce3nd LLC Acquires Shares of 646 General Motors (NYSE:GM)

by · The Cerbat Gem

Transce3nd LLC bought a new position in shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 646 shares of the auto manufacturer’s stock, valued at approximately $34,000.

Several other hedge funds have also modified their holdings of the stock. Norges Bank bought a new position in General Motors in the fourth quarter valued at about $592,321,000. Amundi boosted its stake in shares of General Motors by 75.5% in the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after purchasing an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC grew its position in shares of General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after buying an additional 2,104,528 shares during the period. Raymond James Financial Inc. bought a new stake in shares of General Motors during the fourth quarter worth approximately $108,366,000. Finally, National Bank of Canada FI lifted its holdings in General Motors by 54.4% in the fourth quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer’s stock valued at $178,593,000 after buying an additional 1,180,936 shares during the period. 92.67% of the stock is owned by institutional investors.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GM shares. Barclays downgraded General Motors from an “overweight” rating to a “negative” rating in a research note on Tuesday, April 15th. TD Cowen initiated coverage on General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 target price on the stock. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Sanford C. Bernstein lowered shares of General Motors from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $50.00 to $35.00 in a research note on Monday, April 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a research note on Monday, April 14th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.72.

View Our Latest Stock Report on GM

General Motors Trading Up 1.6 %

NYSE:GM opened at $45.11 on Wednesday. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The stock’s fifty day moving average price is $46.97 and its two-hundred day moving average price is $50.32. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The company has a market cap of $44.88 billion, a P/E ratio of 7.33, a P/E/G ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors declared that its Board of Directors has approved a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were given 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 1.06%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

About General Motors

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM – Free Report) (TSE:GMM.U).