First Citizens Bank & Trust Co. Has $2.42 Million Stock Holdings in General Motors (NYSE:GM)

First Citizens Bank & Trust Co. lowered its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,018 shares of the auto manufacturer’s stock after selling 350 shares during the period. First Citizens Bank & Trust Co.’s holdings in General Motors were worth $2,422,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of General Motors by 24.5% during the fourth quarter. Wellington Management Group LLP now owns 1,949,498 shares of the auto manufacturer’s stock worth $70,026,000 after buying an additional 384,022 shares in the last quarter. Wedmont Private Capital raised its position in General Motors by 10.4% in the first quarter. Wedmont Private Capital now owns 6,557 shares of the auto manufacturer’s stock valued at $293,000 after purchasing an additional 619 shares during the last quarter. Park Avenue Securities LLC raised its position in General Motors by 16.7% in the first quarter. Park Avenue Securities LLC now owns 29,293 shares of the auto manufacturer’s stock valued at $1,328,000 after purchasing an additional 4,185 shares during the last quarter. &PARTNERS acquired a new stake in shares of General Motors during the first quarter valued at about $238,000. Finally, Ballentine Partners LLC increased its stake in shares of General Motors by 52.6% in the first quarter. Ballentine Partners LLC now owns 15,247 shares of the auto manufacturer’s stock valued at $691,000 after buying an additional 5,256 shares during the period. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Performance

Shares of GM opened at $49.18 on Friday. General Motors has a one year low of $26.30 and a one year high of $50.50. The company has a market cap of $56.11 billion, a PE ratio of 6.01, a P/E/G ratio of 0.56 and a beta of 1.42. The stock has a 50-day moving average of $47.01 and a 200-day moving average of $45.93. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

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

General Motors Announces Dividend

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

Insider Activity

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

Analysts Set New Price Targets

A number of research firms have weighed in on GM. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a report on Friday, October 11th. Nomura Securities upgraded General Motors to a “strong sell” rating in a report 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 report on Monday, September 23rd. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of General Motors in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.35.

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.