Private Trust Co. NA Sells 996 Shares of General Motors (NYSE:GM)

Private Trust Co. NA cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,362 shares of the auto manufacturer’s stock after selling 996 shares during the quarter. Private Trust Co. NA’s holdings in General Motors were worth $286,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Golden State Wealth Management LLC acquired a new position in shares of General Motors during the fourth quarter worth approximately $25,000. Crews Bank & Trust acquired a new position in General Motors during the fourth quarter worth $26,000. Catalyst Capital Advisors LLC bought a new position in shares of General Motors in the third quarter valued at $27,000. Truvestments Capital LLC bought a new position in shares of General Motors in the third quarter valued at $27,000. Finally, Compass Planning Associates Inc acquired a new position in shares of General Motors during the fourth quarter valued at about $27,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Down 3.6 %

Shares of General Motors stock opened at $47.37 on Tuesday. General Motors has a 52-week low of $38.94 and a 52-week high of $61.24. The stock’s 50-day simple moving average is $50.24 and its 200 day simple moving average is $50.47. The stock has a market capitalization of $47.13 billion, a P/E ratio of 7.70, a P/E/G ratio of 0.67 and a beta of 1.40. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, research analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors announced that its board has initiated a stock buyback program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. General Motors’s dividend payout ratio is currently 7.80%.

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GM. UBS Group reiterated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and increased their price target for the company from $56.00 to $60.00 in a research report on Tuesday, January 21st. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Mizuho increased their target price on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $59.71.

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.