Toronto Dominion Bank Acquires 342,556 Shares of General Motors (NYSE:GM)

Toronto Dominion Bank lifted its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 65.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 868,663 shares of the auto manufacturer's stock after purchasing an additional 342,556 shares during the quarter. Toronto Dominion Bank owned about 0.09% of General Motors worth $46,274,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in General Motors in the fourth quarter valued at $592,321,000. Amundi increased its position in shares of General Motors by 75.5% during the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock valued at $250,627,000 after purchasing an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC raised its holdings in shares of 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 buying an additional 2,104,528 shares in the last quarter. Raymond James Financial Inc. bought a new stake in General Motors in the 4th quarter worth approximately $108,366,000. Finally, National Bank of Canada FI lifted its position in General Motors by 54.4% in 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 buying an additional 1,180,936 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

General Motors Trading Down 0.2%

General Motors stock traded down $0.11 during mid-day trading on Thursday, reaching $49.26. 6,377,016 shares of the company traded hands, compared to its average volume of 13,333,490. 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 has a 52-week low of $38.96 and a 52-week high of $61.24. The firm has a market capitalization of $47.36 billion, a price-to-earnings ratio of 8.01, a P/E/G ratio of 0.67 and a beta of 1.36. The firm's 50 day moving average price is $46.97 and its 200 day moving average price is $49.99.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The firm had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. During the same quarter in the previous year, the firm posted $2.62 EPS. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.15 per share. This is an increase from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. General Motors's dividend payout ratio is 8.65%.

Wall Street Analyst Weigh In

Several research firms have commented on GM. JPMorgan Chase & Co. decreased their price target on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Cowen initiated coverage on shares of General Motors in a report on Thursday, March 6th. They set a "buy" rating on the stock. Mizuho boosted their price target on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Wall Street Zen cut General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft lowered 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. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, General Motors has a consensus rating of "Hold" and an average price target of $54.56.

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.