Suntrust Banks Inc. boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 268,390 shares of the auto manufacturer’s stock after buying an additional 24,619 shares during the quarter. Suntrust Banks Inc.’s holdings in General Motors were worth $9,752,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in GM. Icon Wealth Partners LLC bought a new position in General Motors in the 4th quarter valued at $106,000. Stelac Advisory Services LLC bought a new position in General Motors in the 1st quarter valued at $119,000. Pinnacle Financial Partners Inc. bought a new position in General Motors in the 1st quarter valued at $141,000. Advisors Preferred LLC grew its position in General Motors by 407.7% in the 1st quarter. Advisors Preferred LLC now owns 3,904 shares of the auto manufacturer’s stock valued at $142,000 after acquiring an additional 3,135 shares during the last quarter. Finally, Financial Gravity Companies Inc. bought a new position in General Motors in the 4th quarter valued at $179,000. Institutional investors own 73.19% of the company’s stock.
In related news, EVP Alan S. Batey sold 215,685 shares of the firm’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $43.01, for a total transaction of $9,276,611.85. Following the sale, the executive vice president now owns 84,594 shares of the company’s stock, valued at $3,638,387.94. The sale was disclosed in a filing with the SEC, which is available through 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 shares were sold at an average price of $36.10, for a total value of $1,263,500.00. Following the sale, 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. 0.39% of the stock is owned by company insiders.
GM has been the topic of several research analyst reports. Citigroup reaffirmed a “hold” rating and issued a $70.00 price objective on shares of General Motors in a research report on Friday, April 27th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $58.00 price objective on shares of General Motors in a research report on Friday, June 1st. Evercore ISI raised General Motors from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $47.00 to $50.00 in a research report on Thursday, May 31st. ValuEngine downgraded General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Piper Jaffray Companies set a $57.00 price objective on General Motors and gave the company an “overweight” rating in a research report on Tuesday, May 15th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. General Motors presently has an average rating of “Hold” and an average price target of $47.21.
Shares of GM stock opened at $41.25 on Friday. General Motors has a 1-year low of $33.96 and a 1-year high of $46.76. The stock has a market cap of $57.96 billion, a P/E ratio of 6.54, a P/E/G ratio of 1.17 and a beta of 1.63. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.73 and a current ratio of 0.86.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Thursday, April 26th. The auto manufacturer reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.19. General Motors had a positive return on equity of 23.03% and a negative net margin of 3.76%. The company had revenue of $36.10 billion for the quarter, compared to the consensus estimate of $34.67 billion. During the same quarter last year, the company earned $1.70 earnings per share. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. equities analysts anticipate that General Motors will post 6.4 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 22nd. Investors of record on Friday, June 8th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, June 7th. General Motors’s payout ratio is currently 22.96%.
About General Motors
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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