Argent Trust Co Has $1.23 Million Stock Position in General Motors (NYSE:GM)

Argent Trust Co trimmed its position in General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 2.5% during the third quarter, HoldingsChannel.com reports. The fund owned 37,198 shares of the auto manufacturer’s stock after selling 949 shares during the quarter. Argent Trust Co’s holdings in General Motors were worth $1,226,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in General Motors in the fourth quarter valued at approximately $493,248,000. Price T Rowe Associates Inc. MD lifted its holdings in General Motors by 80.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,687,738 shares of the auto manufacturer’s stock valued at $538,747,000 after buying an additional 6,548,022 shares during the period. Renaissance Technologies LLC increased its stake in General Motors by 1,257.3% in the first quarter. Renaissance Technologies LLC now owns 2,368,500 shares of the auto manufacturer’s stock valued at $103,598,000 after purchasing an additional 2,194,000 shares in the last quarter. Fisher Asset Management LLC increased its stake in General Motors by 315.8% in the second quarter. Fisher Asset Management LLC now owns 2,476,460 shares of the auto manufacturer’s stock valued at $95,491,000 after purchasing an additional 1,880,835 shares in the last quarter. Finally, Cibc World Markets Corp increased its stake in General Motors by 726.5% in the second quarter. Cibc World Markets Corp now owns 2,095,178 shares of the auto manufacturer’s stock valued at $80,790,000 after purchasing an additional 1,841,663 shares in the last quarter. 79.62% of the stock is owned by institutional investors.

General Motors Stock Performance

Shares of GM stock opened at $37.79 on Tuesday. The stock has a market capitalization of $43.63 billion, a P/E ratio of 5.17, a PEG ratio of 0.48 and a beta of 1.49. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The firm’s 50 day moving average is $35.23 and its 200 day moving average is $33.16. General Motors has a 12 month low of $26.30 and a 12 month high of $43.63.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. The company had revenue of $42.98 billion for the quarter, compared to analysts’ expectations 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 was down .3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.12 EPS. On average, sell-side analysts anticipate that General Motors will post 9.05 earnings per share for the current year.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Friday, March 1st will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, February 29th. This is a positive change from General Motors’s previous quarterly dividend of $0.09. General Motors’s dividend payout ratio is 4.92%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Citigroup boosted their target price on shares of General Motors from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. HSBC initiated coverage on shares of General Motors in a research report on Monday, December 4th. They set a “buy” rating and a $41.30 target price for the company. Morgan Stanley decreased their target price on shares of General Motors from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, October 27th. Finally, Redburn Atlantic initiated coverage on shares of General Motors in a research report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, General Motors currently has an average rating of “Moderate Buy” and a consensus target price of $50.55.

Read Our Latest Stock Report on GM

General Motors Profile

(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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