Zurcher Kantonalbank Zurich Cantonalbank Purchases 428 Shares of General Motors (NYSE:GM)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 247,329 shares of the auto manufacturer’s stock after acquiring an additional 428 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in General Motors were worth $8,884,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. SouthState Corp boosted its position in General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 485 shares during the last quarter. Penserra Capital Management LLC boosted its position in General Motors by 85.8% during the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after acquiring an additional 283 shares during the last quarter. Highlander Capital Management LLC bought a new stake in General Motors during the fourth quarter valued at $27,000. BluePath Capital Management LLC bought a new stake in General Motors during the third quarter valued at $33,000. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of General Motors during the 4th quarter worth about $36,000. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In related news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,248 shares of company stock valued at $3,614,078. Company insiders own 0.54% of the company’s stock.

General Motors Trading Down 0.2 %

Shares of GM stock opened at $42.37 on Friday. The company has a 50 day moving average of $41.65 and a 200-day moving average of $35.83. The firm has a market cap of $48.91 billion, a P/E ratio of 5.80, a PEG ratio of 0.51 and a beta of 1.51. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.16 by $0.08. The company had revenue of $42.98 billion during the quarter, compared to the consensus estimate of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. General Motors’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm earned $2.12 EPS. Sell-side analysts anticipate that General Motors will post 9.12 earnings per share for the current year.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were issued a $0.12 dividend. The ex-dividend date was Thursday, February 29th. This is an increase from General Motors’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a yield of 1.13%. General Motors’s dividend payout ratio (DPR) is 6.57%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GM. Morgan Stanley increased their price objective 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. TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Tigress Financial increased their price objective on shares of General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 15th. Wedbush increased their price objective on shares of General Motors from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Finally, Barclays increased their price objective on shares of General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Motors presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.57.

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.