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

Toronto Dominion Bank raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 65.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 868,663 shares of the auto manufacturer’s stock after acquiring an additional 342,556 shares during the quarter. Toronto Dominion Bank’s holdings in General Motors were worth $46,274,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Park Avenue Securities LLC boosted its holdings in shares of General Motors by 23.9% in the fourth quarter. Park Avenue Securities LLC now owns 47,849 shares of the auto manufacturer’s stock worth $2,549,000 after buying an additional 9,231 shares during the last quarter. Ritholtz Wealth Management raised its position in General Motors by 79.5% in the fourth quarter. Ritholtz Wealth Management now owns 15,564 shares of the auto manufacturer’s stock worth $829,000 after acquiring an additional 6,892 shares during the period. Wealthcare Advisory Partners LLC purchased a new position in shares of General Motors during the 4th quarter worth $346,000. Relyea Zuckerberg Hanson LLC purchased a new position in shares of General Motors during the 4th quarter worth $201,000. Finally, Merit Financial Group LLC grew its position in shares of General Motors by 41.1% during the 4th quarter. Merit Financial Group LLC now owns 18,323 shares of the auto manufacturer’s stock valued at $976,000 after acquiring an additional 5,335 shares during the period. 92.67% of the stock is currently owned by institutional investors.

General Motors Trading Up 0.5%

Shares of GM stock opened at $50.36 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. The stock has a market capitalization of $48.42 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The stock’s 50-day moving average price is $46.85 and its 200-day moving average price is $50.01.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.15. The business had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.62 EPS. Equities research analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 6th. This represents a $0.60 annualized dividend and a yield of 1.19%. This is a positive change from General Motors’s previous quarterly dividend of $0.12. General Motors’s dividend payout ratio (DPR) is 8.65%.

General Motors announced that its board has authorized 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 repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

GM has been the topic of a number of recent research reports. Wedbush decreased their target price on General Motors from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays boosted their price objective on General Motors from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Deutsche Bank Aktiengesellschaft cut shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a research note on Monday, April 14th. Finally, Royal Bank of Canada upped their price target on shares of General Motors from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.