First Citizens Bank & Trust Co. Sells 350 Shares of General Motors (NYSE:GM)

First Citizens Bank & Trust Co. cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 54,018 shares of the auto manufacturer’s stock after selling 350 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in General Motors were worth $2,422,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL purchased a new position in General Motors during the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the 2nd quarter valued at $28,000. Fortitude Family Office LLC grew its stake in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the last quarter. Montag A & Associates Inc. purchased a new position in General Motors in the 1st quarter worth approximately $30,000. Finally, EdgeRock Capital LLC purchased a new position in shares of General Motors in the second quarter worth $33,000. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GM. Wells Fargo & Company decreased their target price on General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a report on Tuesday, September 10th. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research note on Monday, August 5th. Sanford C. Bernstein downgraded General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price on the stock. in a research note on Monday, September 23rd. Finally, Wolfe Research initiated coverage on shares of General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, General Motors currently has a consensus rating of “Hold” and a consensus price target of $55.35.

Insider Activity

In other news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was bought at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

General Motors Trading Down 0.4 %

Shares of GM stock opened at $49.18 on Friday. The stock’s 50-day moving average price is $47.01 and its 200-day moving average price is $45.93. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $56.11 billion, a price-to-earnings ratio of 6.01, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. During the same period last year, the company posted $1.91 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Equities research analysts predict that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s payout ratio is currently 5.87%.

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.