First Citizens Bank & Trust Co. Buys 294 Shares of General Motors (NYSE:GM)

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First Citizens Bank & Trust Co. lifted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,843 shares of the auto manufacturer’s stock after acquiring an additional 294 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in General Motors were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in General Motors by 0.7% during the second quarter. Vanguard Group Inc. now owns 102,571,908 shares of the auto manufacturer’s stock worth $3,952,096,000 after purchasing an additional 717,703 shares during the period. Northern Trust Corp grew its stake in General Motors by 1.3% during the second quarter. Northern Trust Corp now owns 14,406,653 shares of the auto manufacturer’s stock worth $555,088,000 after purchasing an additional 184,349 shares during the period. Bank of New York Mellon Corp grew its stake in General Motors by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 13,977,174 shares of the auto manufacturer’s stock worth $538,539,000 after purchasing an additional 99,948 shares during the period. Charles Schwab Investment Management Inc. grew its stake in General Motors by 4.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 7,033,921 shares of the auto manufacturer’s stock worth $271,017,000 after purchasing an additional 324,329 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in General Motors by 1.2% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,281,100 shares of the auto manufacturer’s stock worth $242,011,000 after purchasing an additional 75,014 shares during the period. Institutional investors own 76.81% of the company’s stock.

Several research firms recently commented on GM. UBS Group raised their target price on General Motors from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Nomura set a $38.00 target price on General Motors and gave the stock a “hold” rating in a research note on Wednesday, August 7th. ValuEngine cut General Motors from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley set a $46.00 target price on General Motors and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Evercore ISI set a $50.00 target price on General Motors and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. General Motors currently has a consensus rating of “Buy” and a consensus target price of $47.00.

Shares of General Motors stock opened at $36.17 on Monday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.83 and a current ratio of 0.96. General Motors has a 52 week low of $30.56 and a 52 week high of $41.90. The stock has a 50 day moving average price of $36.96 and a two-hundred day moving average price of $37.71. The stock has a market capitalization of $51.67 billion, a PE ratio of 5.53, a price-to-earnings-growth ratio of 0.53 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Thursday, August 1st. The auto manufacturer reported $1.64 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.21. General Motors had a return on equity of 21.08% and a net margin of 6.31%. The firm had revenue of $36.06 billion during the quarter, compared to analysts’ expectations of $36.03 billion. During the same quarter last year, the firm posted $1.81 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. Research analysts forecast that General Motors will post 6.1 EPS for the current year.

In related news, EVP Matthew Tsien sold 83,067 shares of General Motors stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $39.50, for a total transaction of $3,281,146.50. Following the sale, the executive vice president now directly owns 84,667 shares in the company, valued at $3,344,346.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 275,944 shares of General Motors stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $40.03, for a total value of $11,046,038.32. Following the sale, the president now owns 479,413 shares in the company, valued at $19,190,902.39. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 375,944 shares of company stock worth $14,996,038. 0.51% of the stock is owned by insiders.

General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

Further Reading: Why are percentage gainers important?

Institutional Ownership by Quarter for General Motors (NYSE:GM)

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