Aigen Investment Management LP Acquires 23,889 Shares of General Motors (NYSE:GM)

Aigen Investment Management LP grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 145.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,332 shares of the auto manufacturer’s stock after buying an additional 23,889 shares during the period. Aigen Investment Management LP’s holdings in General Motors were worth $1,808,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. raised its position in shares of General Motors by 34.5% during the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after purchasing an additional 203 shares during the period. Allworth Financial LP lifted its stake in General Motors by 2.3% in the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after buying an additional 205 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the period. SeaCrest Wealth Management LLC raised its holdings in shares of General Motors by 3.5% during the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after acquiring an additional 227 shares during the period. Finally, Institute for Wealth Management LLC. lifted its position in General Motors by 0.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock valued at $1,702,000 after acquiring an additional 230 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Price Performance

Shares of NYSE:GM traded up $0.27 during midday trading on Tuesday, hitting $57.93. The stock had a trading volume of 828,612 shares, compared to its average volume of 14,886,665. The company’s 50-day moving average price is $48.97 and its 200-day moving average price is $46.98. General Motors has a fifty-two week low of $26.64 and a fifty-two week high of $58.26. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $63.70 billion, a P/E ratio of 6.15, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.28 earnings per share. As a group, equities research analysts predict that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 653,511 shares of company stock valued at $35,012,844. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GM has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada boosted their target price on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research report on Monday, August 5th. Finally, Nomura Securities raised shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Motors presently has an average rating of “Hold” and an average price target of $56.92.

About General Motors

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.