Toronto Dominion Bank reduced its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 5.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 446,149 shares of the auto manufacturer's stock after selling 24,670 shares during the quarter. Toronto Dominion Bank's holdings in General Motors were worth $20,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in the company. Capital World Investors grew its stake in shares of General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer's stock worth $2,211,609,000 after acquiring an additional 6,201,777 shares during the period. Putnam Investments LLC boosted its position in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer's stock worth $726,942,000 after purchasing an additional 2,905,689 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of General Motors by 21.9% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer's stock worth $650,062,000 after purchasing an additional 3,247,050 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of General Motors by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer's stock valued at $601,730,000 after purchasing an additional 135,717 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer's stock valued at $600,291,000 after buying an additional 1,091,137 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.
Shares of GM opened at $45.80 on Friday. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The stock has a 50 day simple moving average of $46.13 and a two-hundred day simple moving average of $45.42. The firm has a market cap of $51.48 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.56 and a beta of 1.43.
General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.67 by $0.39. The company had revenue of $47.97 billion during the quarter, compared to analysts' expectations of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm's revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 EPS. On average, analysts forecast that General Motors will post 9.95 earnings per share for the current fiscal year.
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 outstanding 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 generally an indication that the company's board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, September 6th. General Motors's dividend payout ratio (DPR) is presently 5.87%.
In related news, CFO Paul A. Jacobson purchased 25,000 shares of the firm's stock in a transaction on Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares of the company's stock, valued at $11,551,173.92. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Paul A. Jacobson purchased 25,000 shares of General Motors stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by company insiders.
A number of research firms recently weighed in on GM. Wedbush reiterated an "outperform" rating and issued a $55.00 price objective on shares of General Motors in a research note on Wednesday, July 24th. UBS Group boosted their price objective on General Motors from $61.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, July 10th. Nomura downgraded General Motors from a "neutral" rating to a "reduce" rating and set a $34.00 target price for the company. in a research note on Monday, August 5th. StockNews.com cut General Motors from a "buy" rating to a "hold" rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley lowered shares of General Motors from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $47.00 to $42.00 in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $54.92.
Read Our Latest Research Report on General Motors
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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