Trustmark National Bank Trust Department Has $1.16 Million Stock Position in General Motors (NYSE:GM)

Trustmark National Bank Trust Department increased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 8.7% during the third quarter, HoldingsChannel reports. The fund owned 25,891 shares of the auto manufacturer’s stock after acquiring an additional 2,067 shares during the quarter. Trustmark National Bank Trust Department’s holdings in General Motors were worth $1,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB bought a new position in shares of General Motors during the 1st quarter valued at approximately $159,750,000. Jennison Associates LLC raised its position in shares of General Motors by 123.1% during the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after buying an additional 1,779,897 shares in the last quarter. Artemis Investment Management LLP raised its position in shares of General Motors by 581.4% during the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock valued at $71,827,000 after buying an additional 1,366,768 shares in the last quarter. Dimensional Fund Advisors LP raised its position in General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after purchasing an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. raised its position in General Motors by 3,333.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock worth $36,394,000 after purchasing an additional 760,523 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of NYSE:GM opened at $55.60 on Friday. General Motors has a 52 week low of $27.83 and a 52 week high of $59.39. The stock has a market capitalization of $61.13 billion, a P/E ratio of 5.93, a PEG ratio of 0.42 and a beta of 1.40. The firm has a fifty day simple moving average of $50.50 and a two-hundred day simple moving average of $47.58. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the company posted $2.28 EPS. The business’s revenue was up 10.5% on a year-over-year basis. On average, analysts expect that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.86%. General Motors’s dividend payout ratio is presently 5.12%.

Insider Buying and Selling

In other news, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. The trade was a 49.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the sale, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,034,351 shares of company stock valued at $56,601,268. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a report on Monday, August 5th. Wells Fargo & Company increased their price objective on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein increased their price target on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, General Motors currently has a consensus rating of “Hold” and a consensus target price of $56.92.

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.