Raymond James & Associates grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 824,110 shares of the auto manufacturer’s stock after acquiring an additional 57,316 shares during the period. Raymond James & Associates owned 0.06% of General Motors worth $33,780,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in GM. Icon Wealth Partners LLC bought a new stake in shares of General Motors in the fourth quarter worth $106,000. Fieldpoint Private Securities LLC bought a new stake in General Motors during the third quarter worth $119,000. Cerebellum GP LLC bought a new stake in General Motors during the fourth quarter worth $123,000. Independence Bank of Kentucky acquired a new position in shares of General Motors in the fourth quarter valued at $129,000. Finally, Stumpf Capital Management LLC acquired a new position in shares of General Motors in the fourth quarter valued at $131,000. 73.55% of the stock is owned by institutional investors.
Shares of GM stock opened at $37.68 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 1.86. General Motors has a fifty-two week low of $31.92 and a fifty-two week high of $46.76. The company has a market capitalization of $53,357.72, a price-to-earnings ratio of 5.69, a P/E/G ratio of 0.73 and a beta of 1.63.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.31. The company had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $34.28 billion. General Motors had a positive return on equity of 22.86% and a negative net margin of 2.58%. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. equities analysts predict that General Motors will post 6.25 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.03%. General Motors’s dividend payout ratio is currently 22.96%.
In other news, Director Retiree Medical Benefits T. Uaw sold 40,000,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $39.71, for a total value of $1,588,400,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charles K. Stevens III sold 35,000 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $36.10, for a total value of $1,263,500.00. Following the completion of the transaction, the insider now directly owns 67,741 shares in the company, valued at approximately $2,445,450.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,294,848 shares of company stock worth $1,600,664,861. Insiders own 0.04% of the company’s stock.
Several equities analysts recently commented on GM shares. Zacks Investment Research upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Barclays reiterated a “buy” rating and set a $61.00 price objective on shares of General Motors in a research note on Tuesday, January 9th. Bank of America increased their price objective on shares of General Motors from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Vetr raised shares of General Motors from a “strong sell” rating to a “sell” rating and set a $40.24 target price for the company in a report on Friday, January 26th. Finally, Nomura set a $45.00 price objective on shares of General Motors and gave the company a “neutral” rating in a report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $44.65.
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General Motors 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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