Argent Trust Co Boosts Stake in General Motors (GM)

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Argent Trust Co grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,711 shares of the auto manufacturer’s stock after buying an additional 3,233 shares during the quarter. Argent Trust Co’s holdings in General Motors were worth $1,595,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Signet Investment Advisory Group Inc. bought a new stake in General Motors in the 4th quarter worth $26,000. Cornerstone Advisors Inc. grew its holdings in General Motors by 63.0% in the 4th quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 346 shares during the last quarter. NuWave Investment Management LLC grew its holdings in General Motors by 198.6% in the 4th quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 588 shares during the last quarter. Advisors Preferred LLC bought a new stake in General Motors in the 4th quarter worth $31,000. Finally, Vigilant Capital Management LLC bought a new stake in General Motors in the 4th quarter worth $43,000. Hedge funds and other institutional investors own 77.74% of the company’s stock.

In other news, insider Alan S. Batey sold 70,266 shares of the firm’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $38.39, for a total value of $2,697,511.74. Following the completion of the sale, the insider now directly owns 205,906 shares of the company’s stock, valued at approximately $7,904,731.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.39% of the company’s stock.

A number of brokerages have issued reports on GM. Seaport Global Securities began coverage on shares of General Motors in a report on Wednesday. They issued a “buy” rating on the stock. Citigroup raised their price target on shares of General Motors to $67.00 and gave the stock a “buy” rating in a report on Friday, February 8th. Royal Bank of Canada raised their price target on shares of General Motors from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, February 7th. Barclays reissued a “buy” rating and issued a $49.00 price target on shares of General Motors in a report on Monday, January 14th. Finally, Goldman Sachs Group set a $38.00 price target on shares of General Motors and gave the stock a “hold” rating in a report on Monday, January 14th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. General Motors has an average rating of “Buy” and a consensus target price of $46.97.

NYSE:GM opened at $39.00 on Thursday. General Motors has a 12 month low of $30.56 and a 12 month high of $45.00. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.92 and a quick ratio of 0.80. The stock has a market capitalization of $54.45 billion, a PE ratio of 5.96, a P/E/G ratio of 0.72 and a beta of 1.26.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Wednesday, February 6th. The auto manufacturer reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.22. General Motors had a net margin of 5.45% and a return on equity of 23.99%. The firm had revenue of $38.40 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the company posted $1.65 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, research analysts forecast that General Motors will post 6.34 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.90%. General Motors’s dividend payout ratio is 23.24%.

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General Motors Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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

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