Jennison Associates LLC Has $49.97 Million Stock Position in General Motors (NYSE:GM)

Jennison Associates LLC decreased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 38.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,391,039 shares of the auto manufacturer’s stock after selling 868,757 shares during the period. Jennison Associates LLC owned 0.10% of General Motors worth $49,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Greenwich Wealth Management LLC lifted its position in General Motors by 55.3% during the 4th quarter. Greenwich Wealth Management LLC now owns 76,314 shares of the auto manufacturer’s stock worth $2,741,000 after buying an additional 27,171 shares in the last quarter. Klingenstein Fields & Co. LP acquired a new position in General Motors during the 4th quarter worth about $207,000. Cetera Trust Company N.A acquired a new position in General Motors during the 4th quarter valued at about $1,284,000. Handelsbanken Fonder AB lifted its position in General Motors by 18.5% during the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock valued at $17,064,000 after purchasing an additional 74,194 shares during the period. Finally, Criterion Capital Advisors LLC acquired a new position in General Motors during the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GM shares. Wolfe Research upgraded shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Thursday, January 4th. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Royal Bank of Canada upped their target price on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday. Wedbush upped their target price on shares of General Motors from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.52.

Insider Transactions at General Motors

In other news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock valued at $3,614,078 in the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

General Motors Price Performance

NYSE GM opened at $45.10 on Wednesday. The business has a 50 day simple moving average of $41.86 and a 200 day simple moving average of $36.06. General Motors has a 52-week low of $26.30 and a 52-week high of $46.04. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a market cap of $52.06 billion, a price-to-earnings ratio of 6.17, a PEG ratio of 0.51 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the prior year, the business earned $2.21 EPS. General Motors’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts anticipate that General Motors will post 9.12 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. General Motors’s payout ratio is 6.57%.

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.