Raymond James Trust N.A. boosted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 44.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,989 shares of the auto manufacturer’s stock after acquiring an additional 5,532 shares during the period. Raymond James Trust N.A.’s holdings in General Motors were worth $668,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Signet Investment Advisory Group Inc. purchased a new position in General Motors in the 4th quarter worth approximately $26,000. Cornerstone Advisors Inc. lifted its holdings in General Motors by 63.0% in the 4th quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 346 shares in the last quarter. NuWave Investment Management LLC lifted its holdings in General Motors by 198.6% in the 4th quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 588 shares in the last quarter. Liberty Wealth Management LLC purchased a new position in General Motors in the 4th quarter worth approximately $30,000. Finally, Advisors Preferred LLC purchased a new position in General Motors in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 77.16% of the company’s stock.
Shares of GM stock opened at $37.89 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.81 and a current ratio of 0.94. General Motors has a 1-year low of $30.56 and a 1-year high of $45.00. The stock has a market cap of $53.30 billion, a P/E ratio of 5.79, a P/E/G ratio of 0.64 and a beta of 1.27.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, June 6th. General Motors’s payout ratio is currently 23.24%.
A number of research analysts recently commented on the company. Nomura set a $42.00 price target on General Motors and gave the stock a “hold” rating in a report on Thursday, May 2nd. Royal Bank of Canada upped their price objective on General Motors from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, January 14th. Seaport Global Securities initiated coverage on General Motors in a report on Wednesday, February 13th. They set a “buy” rating on the stock. BMO Capital Markets upped their price objective on General Motors from $41.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, January 14th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and set a $36.00 price objective on shares of General Motors in a report on Tuesday, March 26th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $47.60.
In other news, CFO Dhivya Suryadevara sold 34,756 shares of General Motors stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.40, for a total value of $1,299,874.40. Following the sale, the chief financial officer now directly owns 10,741 shares of the company’s stock, valued at $401,713.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher Hatto sold 8,499 shares of General Motors stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $40.00, for a total value of $339,960.00. Following the completion of the sale, the vice president now directly owns 10,040 shares in the company, valued at $401,600. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,521 shares of company stock worth $4,337,346. 0.51% of the stock is owned by corporate insiders.
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About General Motors
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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