Point72 Asset Management L.P. Lowers Holdings in General Motors (NYSE:GM)

Point72 Asset Management L.P. decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 10.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 800,140 shares of the auto manufacturer’s stock after selling 96,107 shares during the period. Point72 Asset Management L.P.’s holdings in General Motors were worth $45,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GM. Price T Rowe Associates Inc. MD lifted its holdings in General Motors by 131.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,504,152 shares of the auto manufacturer’s stock worth $1,103,633,000 after buying an additional 15,046,943 shares during the period. Geode Capital Management LLC lifted its holdings in General Motors by 5.1% during the first quarter. Geode Capital Management LLC now owns 19,423,763 shares of the auto manufacturer’s stock worth $1,112,764,000 after buying an additional 949,040 shares during the period. Dimensional Fund Advisors LP lifted its holdings in General Motors by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 14,394,184 shares of the auto manufacturer’s stock worth $827,218,000 after buying an additional 84,386 shares during the period. Norges Bank purchased a new stake in General Motors during the fourth quarter worth $597,509,000. Finally, Nuveen Asset Management LLC lifted its holdings in General Motors by 73.0% during the first quarter. Nuveen Asset Management LLC now owns 12,135,664 shares of the auto manufacturer’s stock worth $697,315,000 after buying an additional 5,119,027 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

A number of analysts have weighed in on the company. Barclays upped their target price on General Motors from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Tuesday, June 22nd. Argus upped their price target on General Motors from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, May 18th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft upped their price target on General Motors from $67.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, May 6th. Tudor Pickering assumed coverage on General Motors in a research report on Tuesday, May 18th. They set a “buy” rating and a $76.00 price target on the stock. Finally, Royal Bank of Canada upped their price target on General Motors from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $67.64.

In other news, EVP Randall D. Mott sold 6,000 shares of the stock in a transaction dated Wednesday, June 9th. The shares were sold at an average price of $64.01, for a total transaction of $384,060.00. Following the sale, the executive vice president now directly owns 122,113 shares of the company’s stock, valued at approximately $7,816,453.13. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Matthew Tsien sold 16,989 shares of the stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $63.95, for a total transaction of $1,086,446.55. Following the sale, the executive vice president now directly owns 82,768 shares in the company, valued at $5,293,013.60. The disclosure for this sale can be found here. Insiders have sold a total of 215,975 shares of company stock worth $13,595,817 over the last ninety days. 0.40% of the stock is owned by insiders.

Shares of GM opened at $56.35 on Thursday. The stock’s 50-day moving average is $58.76. The firm has a market cap of $81.75 billion, a P/E ratio of 9.23, a P/E/G ratio of 0.86 and a beta of 1.32. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.92. General Motors has a fifty-two week low of $24.44 and a fifty-two week high of $64.30.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Wednesday, May 5th. The auto manufacturer reported $2.25 earnings per share for the quarter, topping the consensus estimate of $0.97 by $1.28. The company had revenue of $32.47 billion for the quarter, compared to the consensus estimate of $33.15 billion. General Motors had a return on equity of 19.59% and a net margin of 7.49%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm earned $0.62 EPS. As a group, analysts predict that General Motors will post 6.62 earnings per share for the current fiscal year.

General Motors Company Profile

General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.

Recommended Story: Outstanding Shares and The Effect on Share Price

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) (TSE:GMM.U).

Institutional Ownership by Quarter for General Motors (NYSE:GM)

Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.