Truist Financial Corp Sells 14,779 Shares of General Motors (NYSE:GM)

Truist Financial Corp lessened its position in General Motors (NYSE:GM) (TSE:GMM.U) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,497 shares of the auto manufacturer’s stock after selling 14,779 shares during the period. Truist Financial Corp’s holdings in General Motors were worth $6,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GM. Caisse DE Depot ET Placement DU Quebec boosted its holdings in General Motors by 972.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after purchasing an additional 1,906,964 shares during the period. Jennison Associates LLC boosted its holdings in General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after purchasing an additional 1,779,897 shares during the period. National Bank of Canada FI boosted its holdings in General Motors by 158.8% in the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock valued at $97,374,000 after purchasing an additional 1,332,450 shares during the period. AustralianSuper Pty Ltd boosted its holdings in General Motors by 35.8% in the 4th quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer’s stock valued at $234,364,000 after purchasing an additional 1,159,958 shares during the period. Finally, Ninety One UK Ltd boosted its holdings in General Motors by 38.7% in the 4th quarter. Ninety One UK Ltd now owns 4,089,633 shares of the auto manufacturer’s stock valued at $217,855,000 after purchasing an additional 1,140,569 shares during the period. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GM shares. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and boosted their target price for the company from $56.00 to $60.00 in a research report on Tuesday, January 21st. Mizuho boosted their target price on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.71.

Insider Activity

In related news, EVP Rory Harvey sold 8,919 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

General Motors Trading Down 3.3 %

GM opened at $46.31 on Friday. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a market capitalization of $46.07 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 0.67 and a beta of 1.40. The company’s 50 day moving average price is $50.68 and its two-hundred day moving average price is $50.22.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, research analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

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.