Trexquant Investment LP Acquires New Position in General Motors (GM)

Trexquant Investment LP acquired a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 158,763 shares of the auto manufacturer’s stock, valued at approximately $5,346,000.

A number of other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in General Motors by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 14,890,898 shares of the auto manufacturer’s stock worth $586,820,000 after buying an additional 81,468 shares during the last quarter. Bank of New York Mellon Corp grew its stake in General Motors by 20.0% during the second quarter. Bank of New York Mellon Corp now owns 14,355,956 shares of the auto manufacturer’s stock worth $565,624,000 after buying an additional 2,394,922 shares during the last quarter. Northern Trust Corp grew its stake in General Motors by 0.3% during the second quarter. Northern Trust Corp now owns 13,720,539 shares of the auto manufacturer’s stock worth $540,590,000 after buying an additional 43,643 shares during the last quarter. LSV Asset Management grew its stake in General Motors by 1.3% during the third quarter. LSV Asset Management now owns 11,895,516 shares of the auto manufacturer’s stock worth $400,522,000 after buying an additional 151,900 shares during the last quarter. Finally, Levin Capital Strategies L.P. lifted its position in shares of General Motors by 31.2% during the third quarter. Levin Capital Strategies L.P. now owns 6,670,952 shares of the auto manufacturer’s stock worth $224,611,000 after purchasing an additional 1,584,628 shares in the last quarter. 73.82% of the stock is currently owned by hedge funds and other institutional investors.

GM has been the topic of a number of research reports. Jefferies Financial Group reiterated a “hold” rating and set a $39.00 target price on shares of General Motors in a research report on Friday, July 27th. JPMorgan Chase & Co. reduced their target price on shares of General Motors from $58.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Morgan Stanley reduced their target price on shares of General Motors from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, August 17th. ValuEngine lowered shares of General Motors from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, Zacks Investment Research lowered shares of General Motors from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. General Motors has an average rating of “Buy” and an average price target of $45.79.

Shares of NYSE GM opened at $35.93 on Friday. General Motors has a fifty-two week low of $30.56 and a fifty-two week high of $45.52. The company has a market capitalization of $50.18 billion, a P/E ratio of 5.43, a price-to-earnings-growth ratio of 0.67 and a beta of 1.25. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Wednesday, October 31st. The auto manufacturer reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.62. General Motors had a net margin of 0.56% and a return on equity of 25.81%. The business had revenue of $35.79 billion for the quarter, compared to analyst estimates of $34.85 billion. During the same period in the prior year, the business posted $1.32 earnings per share. General Motors’s revenue was up 6.4% compared to the same quarter last year. Research analysts predict that General Motors will post 6.23 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Friday, December 7th will be issued a $0.38 dividend. The ex-dividend date is Thursday, December 6th. This represents a $1.52 annualized dividend and a yield of 4.23%. General Motors’s dividend payout ratio is currently 22.96%.

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General Motors Company Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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

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