First Citizens Bank & Trust Co. lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 47.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,505 shares of the auto manufacturer’s stock after selling 7,817 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in General Motors were worth $316,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in General Motors by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 96,849,509 shares of the auto manufacturer’s stock valued at $3,260,923,000 after buying an additional 2,699,178 shares during the period. Vanguard Group Inc grew its holdings in shares of General Motors by 2.9% during the 3rd quarter. Vanguard Group Inc now owns 96,849,509 shares of the auto manufacturer’s stock valued at $3,260,923,000 after purchasing an additional 2,699,178 shares during the last quarter. Harris Associates L P grew its holdings in shares of General Motors by 4.2% during the 4th quarter. Harris Associates L P now owns 62,412,310 shares of the auto manufacturer’s stock valued at $2,087,691,000 after purchasing an additional 2,510,439 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of General Motors by 2,701.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,064,309 shares of the auto manufacturer’s stock valued at $1,018,000 after purchasing an additional 32,848,376 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of General Motors by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 16,309,521 shares of the auto manufacturer’s stock valued at $544,715,000 after purchasing an additional 1,217,986 shares during the last quarter. Institutional investors own 77.58% of the company’s stock.
In other General Motors news, CFO Dhivya Suryadevara sold 34,756 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.40, for a total transaction of $1,299,874.40. Following the transaction, the chief financial officer now directly owns 10,741 shares in the company, valued at $401,713.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher Hatto sold 8,499 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $40.00, for a total transaction of $339,960.00. Following the transaction, the vice president now owns 10,040 shares in the company, valued at $401,600. The disclosure for this sale can be found here. Insiders have sold a total of 113,521 shares of company stock worth $4,337,346 over the last three months. Insiders own 0.39% of the company’s stock.
GM opened at $39.66 on Wednesday. General Motors has a fifty-two week low of $30.56 and a fifty-two week high of $45.00. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.80 and a current ratio of 0.92. The company has a market cap of $55.77 billion, a price-to-earnings ratio of 6.06, a price-to-earnings-growth ratio of 0.69 and a beta of 1.27.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Wednesday, February 6th. The auto manufacturer reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.22. General Motors had a net margin of 5.45% and a return on equity of 23.99%. The firm had revenue of $38.40 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period in the previous year, the firm posted $1.65 EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts forecast that General Motors will post 6.48 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend was Thursday, March 7th. General Motors’s payout ratio is 23.24%.
Several equities research analysts recently issued reports on the stock. Goldman Sachs Group reaffirmed a “neutral” rating and set a $36.00 price target on shares of General Motors in a report on Tuesday, March 26th. Zacks Investment Research lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. BMO Capital Markets lifted their price target on shares of General Motors from $41.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, January 14th. Barclays reaffirmed a “buy” rating and set a $49.00 price target on shares of General Motors in a report on Monday, January 14th. Finally, Buckingham Research set a $34.00 price target on shares of General Motors and gave the company a “hold” rating in a report on Friday, January 11th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. General Motors has an average rating of “Buy” and an average price target of $47.20.
General Motors Company Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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