First Financial Bank Trust Division Sells 3,974 Shares of General Motors (NYSE:GM)

First Financial Bank Trust Division decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,613 shares of the auto manufacturer’s stock after selling 3,974 shares during the quarter. First Financial Bank Trust Division’s holdings in General Motors were worth $5,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in General Motors by 6.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,017,337 shares of the auto manufacturer’s stock worth $36,543,000 after purchasing an additional 57,568 shares during the period. Belpointe Asset Management LLC purchased a new position in General Motors in the 4th quarter worth approximately $494,000. CIBC Private Wealth Group LLC increased its stake in General Motors by 28.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 57,716 shares of the auto manufacturer’s stock worth $2,073,000 after purchasing an additional 12,826 shares during the period. Capital International Sarl increased its stake in General Motors by 13.9% in the 4th quarter. Capital International Sarl now owns 90,048 shares of the auto manufacturer’s stock worth $3,235,000 after purchasing an additional 11,022 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in General Motors by 135.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 207,028 shares of the auto manufacturer’s stock worth $7,436,000 after purchasing an additional 119,143 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 0.1 %

General Motors stock opened at $44.82 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The business’s fifty day simple moving average is $45.86 and its two-hundred day simple moving average is $45.61. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. The company has a market capitalization of $51.13 billion, a price-to-earnings ratio of 5.48, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same period in the previous year, the company posted $1.91 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities analysts predict that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is currently 5.87%.

General Motors announced that its Board of Directors has approved a share repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GM shares. Sanford C. Bernstein cut General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price target on the stock. in a research note on Monday, September 23rd. Wolfe Research started coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. lifted their price target on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Finally, StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.47.

Insider Activity

In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.