First Financial Bank Trust Division Purchases 1,130 Shares of General Motors (NYSE:GM)

First Financial Bank Trust Division raised its position in General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 0.9% during the 1st quarter, HoldingsChannel reports. The fund owned 120,288 shares of the auto manufacturer’s stock after buying an additional 1,130 shares during the quarter. First Financial Bank Trust Division’s holdings in General Motors were worth $5,455,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GM. DekaBank Deutsche Girozentrale lifted its stake in General Motors by 2.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 344,682 shares of the auto manufacturer’s stock valued at $11,480,000 after acquiring an additional 6,870 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of General Motors by 7.8% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 18,059 shares of the auto manufacturer’s stock worth $595,000 after purchasing an additional 1,304 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of General Motors by 13.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 142,768 shares of the auto manufacturer’s stock worth $4,707,000 after purchasing an additional 17,376 shares in the last quarter. Rafferty Asset Management LLC raised its stake in shares of General Motors by 5.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 123,175 shares of the auto manufacturer’s stock worth $4,061,000 after purchasing an additional 6,045 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in shares of General Motors during the 3rd quarter worth approximately $6,995,000. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GM shares. Barclays upped their price objective on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Piper Sandler upped their price objective on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Citigroup upped their price objective on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft upped their price objective on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Finally, Wedbush boosted their target price on General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.65.

Check Out Our Latest Analysis on General Motors

General Motors Trading Up 0.3 %

General Motors stock traded up $0.13 during trading hours on Tuesday, hitting $47.53. The stock had a trading volume of 2,696,202 shares, compared to its average volume of 15,981,607. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The stock has a market cap of $54.23 billion, a price-to-earnings ratio of 5.79, a P/E/G ratio of 0.54 and a beta of 1.46. General Motors has a one year low of $26.30 and a one year high of $49.35. The business’s 50 day simple moving average is $44.91 and its 200-day simple moving average is $40.59.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last posted its earnings results 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 firm had revenue of $43.01 billion during 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 business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $2.21 earnings per share. On average, equities analysts predict that General Motors will post 9.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be given a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.01%. General Motors’s dividend payout ratio is presently 5.87%.

General Motors announced that its Board of Directors has authorized a share buyback program on Tuesday, June 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at General Motors

In related news, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value of $15,770,320.65. Following the transaction, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value of $15,770,320.65. Following the transaction, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Christopher Hatto sold 6,000 shares of General Motors stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $42.01, for a total value of $252,060.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,507 shares in the company, valued at $651,449.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,194,343 shares of company stock worth $53,674,717. 0.72% of the stock is currently owned by insiders.

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.

Further Reading

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

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