Cetera Trust Company N.A Raises Stake in General Motors (NYSE:GM)

Cetera Trust Company N.A grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 37,609 shares of the auto manufacturer’s stock after acquiring an additional 3,200 shares during the period. General Motors comprises about 1.1% of Cetera Trust Company N.A’s holdings, making the stock its 28th largest position. Cetera Trust Company N.A’s holdings in General Motors were worth $1,769,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GM. Susquehanna Fundamental Investments LLC bought a new position in General Motors in the fourth quarter valued at about $25,404,000. Asset Management One Co. Ltd. raised its holdings in General Motors by 9.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after acquiring an additional 39,474 shares during the period. Handelsbanken Fonder AB lifted its holdings in General Motors by 10.9% in the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock worth $10,763,000 after purchasing an additional 19,924 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in General Motors during the fourth quarter valued at $394,000. Finally, Vontobel Holding Ltd. boosted its holdings in shares of General Motors by 65.3% during the 4th quarter. Vontobel Holding Ltd. now owns 64,930 shares of the auto manufacturer’s stock valued at $3,459,000 after purchasing an additional 25,639 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GM shares. Cowen began coverage on shares of General Motors in a report on Thursday, March 6th. They issued a “buy” rating on the stock. Citigroup began coverage on shares of General Motors in a research report on Wednesday, April 23rd. They issued a “buy” rating and a $62.00 price objective for the company. Mizuho increased their price target on General Motors from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. TD Cowen assumed 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, Wedbush decreased their price objective on General Motors from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $54.56.

General Motors Stock Up 0.5%

GM stock opened at $47.50 on Monday. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The firm has a market cap of $45.67 billion, a PE ratio of 7.72, a P/E/G ratio of 0.67 and a beta of 1.34. The firm’s fifty day moving average is $46.80 and its 200 day moving average is $49.30.

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

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from General Motors’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. General Motors’s dividend payout ratio is 8.65%.

About General Motors

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.