General Motors (NYSE:GM) Shares Sold by Fiduciary Trust Co

by · The Markets Daily

Fiduciary Trust Co reduced its position in General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,508 shares of the auto manufacturer’s stock after selling 398 shares during the period. Fiduciary Trust Co’s holdings in General Motors were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Family Management Corp lifted its stake in shares of General Motors by 4.4% in the 4th quarter. Family Management Corp now owns 35,668 shares of the auto manufacturer’s stock valued at $1,900,000 after purchasing an additional 1,505 shares during the period. Clark Capital Management Group Inc. increased its holdings in General Motors by 0.4% in the 4th quarter. Clark Capital Management Group Inc. now owns 838,991 shares of the auto manufacturer’s stock worth $44,693,000 after acquiring an additional 3,287 shares in the last quarter. Deutsche Bank AG increased its holdings in General Motors by 21.6% in the 4th quarter. Deutsche Bank AG now owns 4,284,450 shares of the auto manufacturer’s stock worth $228,233,000 after acquiring an additional 761,401 shares in the last quarter. Collar Capital Management LLC purchased a new stake in General Motors in the 4th quarter worth $2,444,000. Finally, Colonial Trust Co SC increased its holdings in General Motors by 35.3% in the 4th quarter. Colonial Trust Co SC now owns 1,130 shares of the auto manufacturer’s stock worth $60,000 after acquiring an additional 295 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Cowen assumed coverage on shares of General Motors in a report on Thursday, March 6th. They issued a “buy” rating for the company. Mizuho dropped their target price on shares of General Motors from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. BNP Paribas raised shares of General Motors to a “strong-buy” rating in a report on Monday, May 5th. Wedbush dropped their target price on shares of General Motors from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Sanford C. Bernstein set a $36.00 target price on shares of General Motors in a report on Monday, May 5th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $54.28.

Get Our Latest Analysis on General Motors

General Motors Trading Up 0.3%

NYSE GM opened at $47.51 on Monday. The firm’s 50-day moving average is $46.63 and its two-hundred day moving average is $50.06. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a market capitalization of $45.68 billion, a P/E ratio of 7.73, a PEG ratio of 0.67 and a beta of 1.36.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last posted its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The company had revenue of $44.02 billion for the quarter, compared to analysts’ expectations of $42.64 billion. During the same quarter in the prior year, the company posted $2.62 earnings per share. General Motors’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be given a $0.15 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. This is a boost from General Motors’s previous quarterly dividend of $0.12. General Motors’s dividend payout ratio is presently 8.65%.

General Motors declared that its board has approved a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

General Motors Profile

(Free Report)

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.

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