Heritage Trust Co Makes New $6.03 Million Investment in General Motors (NYSE:GM)

Heritage Trust Co purchased a new stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 113,277 shares of the auto manufacturer's stock, valued at approximately $6,034,000.

Several other large investors have also recently bought and sold shares of the business. MML Investors Services LLC raised its holdings in General Motors by 3.0% in the 3rd quarter. MML Investors Services LLC now owns 139,000 shares of the auto manufacturer's stock worth $6,233,000 after acquiring an additional 4,023 shares during the period. Continuum Advisory LLC grew its position in General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer's stock valued at $131,000 after acquiring an additional 213 shares during the period. M&T Bank Corp increased its position in shares of General Motors by 1.4% during the 3rd quarter. M&T Bank Corp now owns 63,141 shares of the auto manufacturer's stock worth $2,831,000 after purchasing an additional 852 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in General Motors by 23.8% in the third quarter. Coldstream Capital Management Inc. now owns 19,885 shares of the auto manufacturer's stock valued at $955,000 after buying an additional 3,817 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in General Motors by 17.9% during the third quarter. Toronto Dominion Bank now owns 526,107 shares of the auto manufacturer's stock worth $23,591,000 after buying an additional 79,958 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GM. Barclays downgraded General Motors from an "overweight" rating to a "negative" rating in a report on Tuesday. Sanford C. Bernstein lowered General Motors from a "market perform" rating to an "underperform" rating and reduced their price objective for the stock from $50.00 to $35.00 in a research note on Monday, April 7th. Cowen initiated coverage on General Motors in a report on Thursday, March 6th. They issued a "buy" rating for the company. JPMorgan Chase & Co. decreased their price objective on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft cut shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective for the company. in a research report on Monday. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $56.72.

General Motors Stock Down 0.1 %

GM traded down $0.05 during trading on Wednesday, hitting $44.49. The company had a trading volume of 4,190,674 shares, compared to its average volume of 13,533,455. The firm's 50-day moving average price is $47.24 and its 200 day moving average price is $50.34. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a market capitalization of $44.27 billion, a PE ratio of 7.23, a PEG ratio of 0.67 and a beta of 1.27. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, equities analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.08%. General Motors's dividend payout ratio (DPR) is presently 7.80%.

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

Insider Activity

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

General Motors Company 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.