Scotia Capital Inc. Has $2.28 Million Stock Position in General Motors (NYSE:GM)

Scotia Capital Inc. reduced its holdings in shares of General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 26.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,381 shares of the auto manufacturer’s stock after selling 22,274 shares during the quarter. Scotia Capital Inc.’s holdings in General Motors were worth $2,277,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Highlander Capital Management LLC bought a new position in shares of General Motors during the fourth quarter valued at about $27,000. Cape Investment Advisory Inc. lifted its position in shares of General Motors by 75.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after purchasing an additional 359 shares in the last quarter. Sachetta LLC bought a new position in shares of General Motors during the fourth quarter valued at about $33,000. Bfsg LLC bought a new position in shares of General Motors during the fourth quarter valued at about $35,000. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of General Motors during the fourth quarter valued at about $36,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on GM. Citigroup raised their price target on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. StockNews.com raised shares of General Motors from a “hold” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company lifted their price objective on shares of General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 24th. UBS Group lifted their price objective on shares of General Motors from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and a consensus price target of $54.65.

Check Out Our Latest Stock Analysis on General Motors

General Motors Price Performance

Shares of NYSE:GM opened at $44.99 on Monday. The company has a 50 day moving average of $44.43 and a 200 day moving average of $39.19. The stock has a market cap of $51.33 billion, a P/E ratio of 5.50, a P/E/G ratio of 0.52 and a beta of 1.46. General Motors has a 12 month low of $26.30 and a 12 month high of $46.17. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.21 earnings per share. As a group, sell-side analysts forecast that General Motors will post 9.4 EPS for the current fiscal year.

General Motors Dividend Announcement

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

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the transaction, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares in the company, valued at approximately $7,684,840.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The disclosure for this sale can be found here. Insiders sold a total of 818,038 shares of company stock valued at $35,592,299 in the last quarter. Corporate insiders own 0.72% of the company’s stock.

About General Motors

(Free Report)

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.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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