Riverview Trust Co Makes New Investment in General Motors (NYSE:GM)

Riverview Trust Co bought a new position in shares of General Motors (NYSE:GMFree Report) (TSE:GMM.U) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 830 shares of the auto manufacturer’s stock, valued at approximately $38,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Highlander Capital Management LLC purchased a new stake in shares of General Motors during the 4th quarter worth approximately $27,000. Cape Investment Advisory Inc. raised its stake in General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares in the last quarter. Sachetta LLC purchased a new stake in General Motors in the fourth quarter valued at approximately $33,000. Bfsg LLC acquired a new stake in shares of General Motors during the fourth quarter worth about $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of General Motors during the fourth quarter worth $36,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the sale, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the sale, the chief executive officer now owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,007 shares in the company, valued at $540,315. The disclosure for this sale can be found here. Insiders sold 1,183,243 shares of company stock valued at $53,203,153 over the last quarter. Insiders own 0.72% of the company’s stock.

General Motors Stock Down 3.3 %

Shares of GM stock traded down $1.60 during trading on Tuesday, hitting $46.51. 5,696,974 shares of the company were exchanged, compared to its average volume of 16,167,336. General Motors has a twelve month low of $26.30 and a twelve month high of $49.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. The firm has a market capitalization of $53.07 billion, a price-to-earnings ratio of 5.83, a P/E/G ratio of 0.55 and a beta of 1.46. The business’s 50-day simple moving average is $45.31 and its 200 day simple moving average is $41.11.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts forecast that General Motors will post 9.44 EPS for the current fiscal year.

General Motors announced that its Board of Directors has approved a share buyback program on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GM. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a research note on Saturday, June 1st. UBS Group boosted their price target on General Motors from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Bank of America reiterated a “buy” rating and set a $75.00 target price on shares of General Motors in a research note on Wednesday, June 12th. Finally, Royal Bank of Canada boosted their target price on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, General Motors has a consensus rating of “Moderate Buy” and an average price target of $54.91.

Read Our Latest Stock Report on GM

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.

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

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