Fifth Third Bancorp trimmed its holdings in shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 12.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,570 shares of the auto manufacturer’s stock after selling 23,323 shares during the period. Fifth Third Bancorp’s holdings in General Motors were worth $6,036,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Schechter Investment Advisors LLC grew its position in shares of General Motors by 3.2% in the fourth quarter. Schechter Investment Advisors LLC now owns 8,578 shares of the auto manufacturer’s stock valued at $289,000 after purchasing an additional 269 shares during the last quarter. Weik Capital Management grew its position in shares of General Motors by 3.1% in the first quarter. Weik Capital Management now owns 9,075 shares of the auto manufacturer’s stock valued at $397,000 after purchasing an additional 275 shares during the last quarter. RFG Advisory LLC grew its position in shares of General Motors by 5.4% in the fourth quarter. RFG Advisory LLC now owns 5,520 shares of the auto manufacturer’s stock valued at $227,000 after purchasing an additional 281 shares during the last quarter. Penserra Capital Management LLC grew its position in shares of General Motors by 85.8% in the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after purchasing an additional 283 shares during the last quarter. Finally, Herbst Group LLC grew its position in shares of General Motors by 0.5% in the fourth quarter. Herbst Group LLC now owns 64,490 shares of the auto manufacturer’s stock valued at $2,169,000 after purchasing an additional 290 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at General Motors
In other news, CFO Paul A. Jacobson acquired 31,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was bought at an average cost of $32.60 per share, for a total transaction of $1,010,600.00. Following the completion of the transaction, the chief financial officer now directly owns 186,847 shares in the company, valued at approximately $6,091,212.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.
General Motors Price Performance
General Motors (NYSE:GM – Free Report) (TSE:GMM.U) last announced its earnings results on Tuesday, April 25th. The auto manufacturer reported $2.21 EPS for the quarter, topping the consensus estimate of $1.53 by $0.68. The firm had revenue of $39.99 billion for the quarter, compared to the consensus estimate of $39.38 billion. General Motors had a return on equity of 15.74% and a net margin of 5.84%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 EPS. As a group, equities analysts expect that General Motors will post 6.81 EPS for the current year.
General Motors Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Friday, June 2nd were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $0.36 annualized dividend and a yield of 0.91%. General Motors’s payout ratio is 5.56%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on General Motors from $37.00 to $35.00 in a research report on Wednesday, April 26th. Citigroup upped their price target on shares of General Motors from $79.00 to $85.00 in a report on Monday, June 5th. Bank of America lifted their price objective on shares of General Motors from $70.00 to $72.00 in a research note on Thursday. Mizuho cut their target price on General Motors from $39.00 to $37.00 in a research note on Wednesday, April 26th. Finally, Barclays lowered their price target on General Motors from $45.00 to $42.00 in a report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.47.
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.
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