Truist Financial Corp Has $6.58 Million Position in General Motors (NYSE:GM)

Truist Financial Corp reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of General Motors during the 4th quarter valued at $25,000. Crews Bank & Trust bought a new stake in General Motors in the fourth quarter worth $26,000. Catalyst Capital Advisors LLC bought a new stake in General Motors in the third quarter worth $27,000. Truvestments Capital LLC bought a new stake in General Motors in the third quarter worth $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in General Motors in the fourth quarter worth $28,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of GM stock opened at $46.31 on Friday. General Motors has a 52-week low of $38.94 and a 52-week high of $61.24. The stock has a market cap of $46.07 billion, a PE ratio of 7.53, a PEG ratio of 0.67 and a beta of 1.40. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The firm’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 announced its quarterly 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, analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

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

Insider Transactions at General Motors

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GM shares. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and upped their price objective for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Mizuho upped their price objective on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, General Motors has an average rating of “Hold” and a consensus price target of $59.71.

About 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.