Raymond James & Associates Has $64.37 Million Holdings in General Motors (NYSE:GM)

Raymond James & Associates trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,419,394 shares of the auto manufacturer’s stock after selling 27,284 shares during the period. Raymond James & Associates’ holdings in General Motors were worth $64,369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Insight Folios Inc grew its stake in General Motors by 4.7% in the 1st quarter. Insight Folios Inc now owns 8,288 shares of the auto manufacturer’s stock valued at $376,000 after buying an additional 370 shares during the last quarter. New Century Financial Group LLC grew its position in shares of General Motors by 3.1% in the first quarter. New Century Financial Group LLC now owns 21,800 shares of the auto manufacturer’s stock valued at $989,000 after purchasing an additional 663 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of General Motors by 46.3% during the first quarter. First Trust Direct Indexing L.P. now owns 28,753 shares of the auto manufacturer’s stock worth $1,304,000 after purchasing an additional 9,099 shares during the period. Norden Group LLC acquired a new stake in General Motors during the 1st quarter worth approximately $493,000. Finally, Denali Advisors LLC boosted its stake in General Motors by 6.5% in the 1st quarter. Denali Advisors LLC now owns 18,100 shares of the auto manufacturer’s stock valued at $821,000 after purchasing an additional 1,100 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the transaction, the executive vice president now owns 12,658 shares of the company’s stock, valued at $544,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other General Motors news, EVP Rory Harvey sold 5,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $43.04, for a total value of $219,504.00. Following the sale, the executive vice president now owns 12,658 shares in the company, valued at approximately $544,800.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,248 shares of company stock worth $3,614,078. Insiders own 0.54% of the company’s stock.

General Motors Price Performance

Shares of General Motors stock traded up $0.19 during midday trading on Friday, hitting $44.86. 10,046,006 shares of the company traded hands, compared to its average volume of 14,174,765. The stock has a market cap of $51.18 billion, a price-to-earnings ratio of 5.48, a PEG ratio of 0.52 and a beta of 1.49. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. The firm’s fifty day moving average price is $42.84 and its 200-day moving average price is $36.79. General Motors has a 12 month low of $26.30 and a 12 month high of $46.17.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same quarter in the previous year, the firm posted $2.21 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts forecast that General Motors will post 9.44 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s payout ratio is 5.87%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their target price on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Morgan Stanley increased their target price on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. StockNews.com upgraded shares of General Motors from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Barclays increased their price target on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Finally, The Goldman Sachs Group increased their target price on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, General Motors has an average rating of “Moderate Buy” and an average price target of $54.65.

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.