General Motors Company (NYSE:GM) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 13.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,636 shares of the auto manufacturer's stock after selling 8,437 shares during the quarter. M&T Bank Corp's holdings in General Motors were worth $2,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of GM. Norges Bank acquired a new stake in shares of General Motors in the fourth quarter valued at $592,321,000. Assenagon Asset Management S.A. grew its stake in General Motors by 305.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after purchasing an additional 2,154,037 shares in the last quarter. National Bank of Canada FI grew its stake in General Motors by 54.4% during the 4th quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock worth $178,593,000 after purchasing an additional 1,180,936 shares in the last quarter. Franklin Resources Inc. grew its stake in General Motors by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in General Motors during the 4th quarter worth $60,198,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler reissued a "neutral" rating and set a $48.00 target price (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft cut General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price for the company. in a research note on Monday, April 14th. UBS Group decreased their price target on General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Citigroup initiated coverage on General Motors in a report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price target on General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has a consensus rating of "Hold" and an average price target of $53.35.

General Motors Stock Up 0.4%

GM opened at $53.36 on Friday. The business has a 50 day moving average price of $49.33 and a two-hundred day moving average price of $48.76. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 1.46. The company has a market cap of $51.30 billion, a PE ratio of 7.69, a P/E/G ratio of 1.43 and a beta of 1.32. General Motors Company has a 52 week low of $38.96 and a 52 week high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. The business had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The company's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.62 EPS. As a group, research analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.12%. This is an increase from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 6th. General Motors's dividend payout ratio is 8.65%.

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.

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