M&T Bank Corp Buys 852 Shares of General Motors (NYSE:GM)

M&T Bank Corp grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,141 shares of the auto manufacturer’s stock after acquiring an additional 852 shares during the quarter. M&T Bank Corp’s holdings in General Motors were worth $2,831,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Allworth Financial LP raised its holdings in General Motors by 2.3% in the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after purchasing an additional 205 shares during the period. Avestar Capital LLC raised its stake in General Motors by 2.3% during the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after buying an additional 213 shares during the period. Continuum Advisory LLC lifted its holdings in General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after acquiring an additional 213 shares in the last quarter. SeaCrest Wealth Management LLC grew its stake in General Motors by 3.5% in the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after acquiring an additional 227 shares during the period. Finally, Institute for Wealth Management LLC. increased its holdings in shares of General Motors by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after acquiring an additional 230 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value 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 trade represents a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock valued at $56,509,286 over the last quarter. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group boosted their price objective on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $46.00 to $54.00 in a report on Tuesday. Finally, Wells Fargo & Company boosted their price target on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $58.85.

General Motors Trading Up 0.4 %

Shares of GM stock opened at $52.52 on Friday. General Motors has a 12-month low of $34.32 and a 12-month high of $61.24. The company has a market capitalization of $57.75 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. The firm has a 50 day moving average price of $53.00 and a two-hundred day moving average price of $48.64. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter last year, the business earned $2.28 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, analysts predict that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is currently 5.12%.

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.