TIAA Trust National Association Grows Stock Holdings in General Motors (NYSE:GM)

TIAA Trust National Association grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 25.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,008 shares of the auto manufacturer’s stock after purchasing an additional 1,624 shares during the period. TIAA Trust National Association’s holdings in General Motors were worth $427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Amundi raised its stake in General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after purchasing an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC raised its position in shares of General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after buying an additional 2,104,528 shares during the period. Raymond James Financial Inc. acquired a new position in General Motors in the fourth quarter valued at approximately $108,366,000. Caisse DE Depot ET Placement DU Quebec grew its position in General Motors by 972.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after acquiring an additional 1,906,964 shares during the period. Finally, National Bank of Canada FI increased its stake in General Motors by 158.8% during the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after acquiring an additional 1,332,450 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GM shares. Piper Sandler upped their price target on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Cowen assumed coverage on shares of General Motors in a research note on Thursday, March 6th. They set a “buy” rating for the company. The Goldman Sachs Group set a $73.00 price target on shares of General Motors in a research note on Saturday, March 1st. JPMorgan Chase & Co. lowered their price objective on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and lifted their price objective for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, General Motors currently has a consensus rating of “Hold” and a consensus price target of $62.11.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of GM stock opened at $46.65 on Friday. The company has a market cap of $46.42 billion, a P/E ratio of 7.59, a PEG ratio of 0.67 and a beta of 1.42. The firm has a fifty day moving average price of $48.89 and a 200 day moving average price of $50.53. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Sell-side analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s payout ratio is 7.80%.

General Motors declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

General Motors Company 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.