Toronto Dominion Bank Acquires 79,958 Shares of General Motors (NYSE:GM)

Toronto Dominion Bank increased its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 17.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 526,107 shares of the auto manufacturer's stock after acquiring an additional 79,958 shares during the period. Toronto Dominion Bank's holdings in General Motors were worth $23,591,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors in the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors in the third quarter valued at $27,000. Truvestments Capital LLC bought a new position in General Motors during the third quarter valued at about $27,000. Wellington Shields Capital Management LLC acquired a new position in General Motors during the second quarter worth about $28,000. Finally, EdgeRock Capital LLC bought a new stake in General Motors in the second quarter worth about $33,000. 92.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 9,307 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company's stock, valued at $459,787.13. This represents a 52.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary T. Barra sold 506,824 shares of the business's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock worth $56,509,286 in the last quarter. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GM. HSBC lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $58.00 price objective for the company. in a research report on Wednesday. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Morgan Stanley upgraded General Motors from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $46.00 to $54.00 in a research report on Tuesday. Sanford C. Bernstein boosted their price objective on General Motors from $53.00 to $55.00 and gave the stock a "market perform" rating in a report on Friday, October 25th. Finally, Mizuho upped their price target on shares of General Motors from $59.00 to $62.00 and gave the company an "outperform" rating in a research report on Monday. Three 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $58.85.

General Motors Stock Up 0.4 %

GM stock traded up $0.22 during trading hours on Friday, hitting $52.52. The company's stock had a trading volume of 8,847,767 shares, compared to its average volume of 14,725,391. The stock has a 50 day moving average price of $52.86 and a two-hundred day moving average price of $48.58. General Motors has a 12 month low of $34.32 and a 12 month high of $61.24. The company has a market capitalization of $57.75 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the prior year, the business posted $2.28 earnings per share. The business's quarterly revenue was up 10.5% on a year-over-year basis. On average, equities research analysts expect that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. General Motors's payout ratio is presently 5.12%.

About General Motors

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.