General Motors (NYSE:GM) Shares Acquired by TIAA Trust National Association

TIAA Trust National Association raised its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 25.4% in the 4th quarter, Holdings Channel reports. The fund owned 8,008 shares of the auto manufacturer’s stock after acquiring an additional 1,624 shares during the quarter. TIAA Trust National Association’s holdings in General Motors were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC acquired a new stake in shares of General Motors in the 4th quarter worth $25,000. Crews Bank & Trust purchased a new position in General Motors during the fourth quarter worth about $26,000. Truvestments Capital LLC acquired a new stake in General Motors in the third quarter valued at about $27,000. Compass Planning Associates Inc purchased a new stake in General Motors in the 4th quarter valued at approximately $27,000. Finally, Duncker Streett & Co. Inc. increased its position in General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

General Motors Stock Performance

NYSE GM opened at $46.65 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The stock has a market cap of $46.42 billion, a price-to-earnings ratio of 7.59, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The business has a fifty day moving average of $48.89 and a 200-day moving average of $50.53.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, analysts predict 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 authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s payout ratio is currently 7.80%.

Wall Street Analyst Weigh In

GM has been the subject of several recent analyst reports. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a report on Wednesday, December 11th. The Goldman Sachs Group set a $73.00 target price on General Motors in a report on Saturday, March 1st. JPMorgan Chase & Co. decreased their target price on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday. TD Cowen began coverage on shares of General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 price target for the company. Finally, Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $62.11.

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.