Raymond James Financial Inc. Invests $108.37 Million in General Motors (NYSE:GM)

Raymond James Financial Inc. acquired a new position in General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,034,284 shares of the auto manufacturer’s stock, valued at approximately $108,366,000.

Other hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in shares of General Motors in the 4th quarter worth approximately $25,000. Crews Bank & Trust bought a new stake in shares of General Motors in the 4th quarter worth approximately $26,000. Compass Planning Associates Inc bought a new stake in shares of General Motors in the 4th quarter worth approximately $27,000. Duncker Streett & Co. Inc. lifted its holdings in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 498 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of General Motors in the 4th quarter worth approximately $28,000. 92.67% of the stock is currently owned by institutional investors.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 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, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GM shares. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. TD Cowen started coverage on shares of General Motors in a report on Friday. They set a “buy” rating and a $105.00 price target for the company. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Mizuho upped their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a report on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.22.

General Motors Stock Up 0.4 %

NYSE:GM opened at $47.39 on Friday. The firm’s 50-day moving average price is $49.70 and its 200-day moving average price is $50.47. The company has a market capitalization of $47.16 billion, a PE ratio of 7.71, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a 1-year low of $38.94 and a 1-year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released 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%. On average, equities analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is 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.