M&T Bank Corp Trims Stock Holdings in General Motors (NYSE:GM)

M&T Bank Corp trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 16.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,241 shares of the auto manufacturer’s stock after selling 11,151 shares during the quarter. M&T Bank Corp’s holdings in General Motors were worth $2,020,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. lifted its position in shares of General Motors by 804.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,834 shares of the auto manufacturer’s stock worth $209,000 after buying an additional 5,189 shares in the last quarter. Summit Global Investments raised its stake in General Motors by 10.2% in the fourth quarter. Summit Global Investments now owns 12,020 shares of the auto manufacturer’s stock worth $432,000 after buying an additional 1,109 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of General Motors by 1,232.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 96,077 shares of the auto manufacturer’s stock worth $3,451,000 after purchasing an additional 88,868 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of General Motors by 14.8% during the fourth quarter. Natixis Advisors L.P. now owns 1,273,773 shares of the auto manufacturer’s stock valued at $45,753,000 after buying an additional 164,318 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of General Motors by 0.5% during the 4th quarter. Fisher Asset Management LLC now owns 6,497,100 shares of the auto manufacturer’s stock worth $233,376,000 after acquiring an additional 30,641 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In related news, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the transaction, the executive vice president now owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares in the company, valued at $860,710.14. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock worth $3,614,078 in the last three months. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Wedbush boosted their target price on General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Barclays increased their price target on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Piper Sandler boosted their price target on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada increased their price objective on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued 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 target price of $54.65.

General Motors Trading Up 0.7 %

NYSE GM opened at $45.36 on Friday. The company has a fifty day moving average of $43.14 and a 200 day moving average of $37.16. The company has a market capitalization of $51.75 billion, a PE ratio of 5.55, a P/E/G ratio of 0.53 and a beta of 1.49. General Motors has a 1 year low of $26.30 and a 1 year high of $46.17. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97.

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

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is 5.87%.

General Motors Company 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.