Heritage Trust Co Takes $6.03 Million Position in General Motors (NYSE:GM)

Heritage Trust Co bought a new stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 113,277 shares of the auto manufacturer's stock, valued at approximately $6,034,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GM. Golden State Wealth Management LLC purchased a new position in General Motors during the 4th quarter valued at about $25,000. Crews Bank & Trust acquired a new position in shares of General Motors in the fourth quarter valued at approximately $26,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors in the 4th quarter valued at approximately $27,000. Duncker Streett & Co. Inc. raised its holdings in General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after acquiring an additional 498 shares during the period. Finally, Whittier Trust Co. grew its holdings in shares of General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after purchasing an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.72% of the company's stock.

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General Motors Stock Up 3.3 %

GM traded up $1.42 during midday trading on Monday, reaching $45.05. The company's stock had a trading volume of 22,015,481 shares, compared to its average volume of 13,583,292. The firm has a market capitalization of $44.82 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 0.67 and a beta of 1.27. The stock's 50-day moving average is $47.36 and its 200-day moving average is $50.39. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, research analysts expect that General Motors will post 11.44 EPS for the current year.

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

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, March 7th. General Motors's dividend payout ratio (DPR) is presently 7.80%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target for the company. in a report on Monday. Cowen initiated coverage on shares of General Motors in a report on Thursday, March 6th. They set a "buy" rating on the stock. TD Cowen started coverage on shares of General Motors in a report on Friday, March 7th. They set a "buy" rating and a $105.00 target price on the stock. Sanford C. Bernstein lowered shares of General Motors from a "market perform" rating to an "underperform" rating and decreased their target price for the company from $50.00 to $35.00 in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, General Motors has a consensus rating of "Hold" and a consensus target price of $58.39.

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.