Choreo LLC Buys 2,642 Shares of General Motors (NYSE:GM)

Choreo LLC raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 2.6% in the 4th quarter, HoldingsChannel reports. The fund owned 105,430 shares of the auto manufacturer’s stock after purchasing an additional 2,642 shares during the period. Choreo LLC’s holdings in General Motors were worth $5,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Crews Bank & Trust bought a new stake in shares of General Motors during the fourth quarter valued at approximately $26,000. Catalyst Capital Advisors LLC acquired a new stake in General Motors during the third quarter worth $27,000. Truvestments Capital LLC bought a new stake in General Motors in the 3rd quarter valued at $27,000. Sugar Maple Asset Management LLC acquired a new position in shares of General Motors in the 4th quarter valued at $31,000. Finally, Eastern Bank bought a new position in shares of General Motors during the 3rd quarter worth about $34,000. Institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and upped their price objective for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Barclays raised their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on General Motors from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Finally, Sanford C. Bernstein lifted their price objective on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.28.

General Motors Price Performance

GM opened at $47.79 on Thursday. 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’s 50 day simple moving average is $52.27 and its 200-day simple moving average is $49.94. General Motors has a one year low of $37.60 and a one year high of $61.24. The stock has a market capitalization of $47.55 billion, a P/E ratio of 7.77, a price-to-earnings-growth ratio of 0.69 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Sell-side analysts anticipate that General Motors will post 11.41 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors’s payout ratio is presently 7.80%.

General Motors 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.