Raymond James Financial Inc. bought a new stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,034,284 shares of the auto manufacturer's stock, valued at approximately $108,366,000. Raymond James Financial Inc. owned about 0.20% of General Motors as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in GM. ACR Alpine Capital Research LLC increased its stake in General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock valued at $394,060,000 after purchasing an additional 2,104,528 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of General Motors by 972.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer's stock valued at $94,300,000 after buying an additional 1,906,964 shares during the last quarter. Jennison Associates LLC increased its position in shares of General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer's stock valued at $144,655,000 after acquiring an additional 1,779,897 shares in the last quarter. National Bank of Canada FI raised its holdings in General Motors by 158.8% in the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer's stock worth $97,374,000 after acquiring an additional 1,332,450 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its position in General Motors by 35.8% in the 4th quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer's stock valued at $234,364,000 after acquiring an additional 1,159,958 shares in the last quarter. 92.67% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have commented on GM shares. UBS Group reissued a "buy" rating on shares of General Motors in a report on Monday, February 3rd. Morgan Stanley upgraded General Motors from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. HSBC cut shares of General Motors from a "buy" rating to a "hold" rating and set a $58.00 target price on the stock. in a research note on Wednesday, December 11th. The Goldman Sachs Group set a $73.00 price target on shares of General Motors in a research note on Saturday, March 1st. Finally, Mizuho increased their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, General Motors presently has a consensus rating of "Hold" and a consensus target price of $62.89.
Get Our Latest Analysis on GM
Insider Buying and Selling at General Motors
In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company's stock.
General Motors Stock Performance
Shares of GM stock traded down $0.37 during trading hours on Wednesday, reaching $47.92. 7,567,840 shares of the company traded hands, compared to its average volume of 12,176,038. The firm has a 50-day moving average price of $49.49 and a 200 day moving average price of $50.51. The company has a market cap of $47.68 billion, a P/E ratio of 7.79, a P/E/G ratio of 0.67 and a beta of 1.42. General Motors has a 12-month low of $38.94 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.
General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates 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, sell-side analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.
General Motors Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors's payout ratio is presently 7.80%.
General Motors announced that its Board of Directors has initiated a share repurchase 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 purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.
About General Motors
(
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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