Scotia Capital Inc. Buys 17,075 Shares of General Motors Company (NYSE:GM)

Scotia Capital Inc. raised its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 7.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 255,923 shares of the auto manufacturer's stock after buying an additional 17,075 shares during the quarter. Scotia Capital Inc.'s holdings in General Motors were worth $12,036,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in General Motors by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock worth $749,382,000 after acquiring an additional 228,408 shares during the last quarter. Northern Trust Corp increased its position in shares of General Motors by 8.1% in the fourth quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock worth $582,251,000 after purchasing an additional 822,454 shares during the last quarter. ACR Alpine Capital Research LLC increased its position in shares of General Motors by 4.0% in the first quarter. ACR Alpine Capital Research LLC now owns 7,691,140 shares of the auto manufacturer's stock worth $361,714,000 after purchasing an additional 293,736 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in General Motors by 0.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,555,521 shares of the auto manufacturer's stock valued at $402,483,000 after purchasing an additional 48,525 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its position in General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock valued at $287,428,000 after purchasing an additional 1,712,033 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Trading Down 1.5%

NYSE GM opened at $52.52 on Monday. The stock has a market cap of $50.00 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. General Motors Company has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The stock has a 50 day simple moving average of $50.55 and a two-hundred day simple moving average of $48.77. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. The company had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The firm's revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.06 earnings per share. On average, analysts forecast that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio is presently 9.52%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada reissued an "outperform" rating on shares of General Motors in a report on Thursday, July 24th. Piper Sandler reissued a "neutral" rating and issued a $48.00 target price (up previously from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Bank of America dropped their price target on General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Benchmark started coverage on General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 price objective on the stock. Finally, UBS Group raised their price objective on General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $56.35.

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.

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