Heritage Trust Co Invests $6.03 Million in General Motors (NYSE:GM)

Heritage Trust Co bought a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 113,277 shares of the auto manufacturer’s stock, valued at approximately $6,034,000.

Several other hedge funds have also recently added to or reduced their stakes in GM. Golden State Wealth Management LLC acquired a new position in shares of General Motors during the fourth quarter valued at $25,000. Crews Bank & Trust bought a new position in General Motors in the 4th quarter valued at about $26,000. Compass Planning Associates Inc acquired a new position in General Motors during the 4th quarter valued at about $27,000. Duncker Streett & Co. Inc. raised its position in shares of 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 buying an additional 498 shares in the last quarter. Finally, Whittier Trust Co. lifted its stake in shares of General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 425 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 4.0 %

Shares of NYSE GM opened at $43.91 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a one year low of $38.96 and a one year high of $61.24. The business has a 50-day moving average price of $47.46 and a two-hundred day moving average price of $50.37. The firm has a market capitalization of $43.69 billion, a PE ratio of 7.14, a PEG ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating analysts’ consensus estimates 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Friday, March 7th. General Motors’s payout ratio is presently 7.80%.

General Motors declared that its board has approved a share repurchase program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

GM has been the topic of several recent analyst reports. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and raised their target price for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. UBS Group reiterated a “neutral” rating and issued a $51.00 price target (down from $64.00) on shares of General Motors in a research report on Thursday. Finally, Cowen started coverage on shares of General Motors in a research report on Thursday, March 6th. They set a “buy” rating for the company. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $59.33.

Insider Buying and Selling

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction dated 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 completion of the purchase, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by corporate 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.