Raymond James Trust N.A. decreased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 31.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,980 shares of the auto manufacturer’s stock after selling 5,996 shares during the period. Raymond James Trust N.A.’s holdings in General Motors were worth $437,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in GM. Financial Gravity Wealth Inc. bought a new position in shares of General Motors in the 1st quarter valued at about $207,000. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of General Motors by 22.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 672,855 shares of the auto manufacturer’s stock valued at $24,453,000 after acquiring an additional 121,531 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in shares of General Motors by 425.6% in the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 225,500 shares of the auto manufacturer’s stock valued at $8,195,000 after acquiring an additional 182,600 shares during the last quarter. Rational Advisors LLC lifted its holdings in shares of General Motors by 126.2% in the 1st quarter. Rational Advisors LLC now owns 5,203 shares of the auto manufacturer’s stock valued at $189,000 after acquiring an additional 2,903 shares during the last quarter. Finally, Suntrust Banks Inc. lifted its holdings in shares of General Motors by 10.1% in the 1st quarter. Suntrust Banks Inc. now owns 268,390 shares of the auto manufacturer’s stock valued at $9,752,000 after acquiring an additional 24,619 shares during the last quarter. 75.25% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on GM shares. Zacks Investment Research raised shares of General Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Bank of America reissued a “buy” rating and issued a $60.00 price objective on shares of General Motors in a research report on Wednesday, September 12th. Guggenheim reissued a “buy” rating and issued a $52.00 price objective on shares of General Motors in a research report on Friday, July 20th. JPMorgan Chase & Co. reduced their price objective on shares of General Motors from $58.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $39.00 price objective on shares of General Motors in a research report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $46.83.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Wednesday, July 25th. The auto manufacturer reported $1.81 EPS for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.03. The business had revenue of $36.80 billion for the quarter, compared to analyst estimates of $36.62 billion. General Motors had a negative net margin of 3.26% and a positive return on equity of 23.39%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $1.89 earnings per share. Sell-side analysts expect that General Motors will post 5.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Friday, September 7th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date was Thursday, September 6th. General Motors’s dividend payout ratio (DPR) is presently 22.96%.
General Motors Profile
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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