Scotia Capital Inc. Acquires 12,060 Shares of General Motors (NYSE:GM)

Scotia Capital Inc. raised its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 5.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 238,848 shares of the auto manufacturer's stock after acquiring an additional 12,060 shares during the period. Scotia Capital Inc.'s holdings in General Motors were worth $12,724,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in General Motors during the fourth quarter worth about $25,000. Crews Bank & Trust acquired a new stake in shares of General Motors during the 4th quarter valued at $26,000. Compass Planning Associates Inc acquired a new position in General Motors in the 4th quarter valued at approximately $27,000. Duncker Streett & Co. Inc. grew its position in shares of 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 buying an additional 498 shares during the last quarter. Finally, Whittier Trust Co. boosted its position 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 valued at $27,000 after purchasing an additional 425 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.

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General Motors Price Performance

GM stock traded up $1.42 during trading on Monday, hitting $45.05. The stock had a trading volume of 22,015,481 shares, compared to its average volume of 13,583,292. 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 company's 50-day moving average price is $47.36 and its two-hundred day moving average price is $50.39. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The stock has a market capitalization of $44.82 billion, a P/E ratio of 7.33, a PEG ratio of 0.67 and a beta of 1.27.

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, topping 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 predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

General Motors Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. TD Cowen began coverage on General Motors in a research report on Friday, March 7th. They issued a "buy" rating and a $105.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective for the company. in a report on Monday. Cowen began coverage on shares of General Motors in a report on Thursday, March 6th. They set a "buy" rating on the stock. Mizuho dropped their price objective on shares of General Motors from $63.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday. Finally, Wells Fargo & Company reaffirmed an "underweight" rating on shares of General Motors in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $58.39.

General Motors Profile

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.