Toronto Dominion Bank Raises Stake in General Motors (NYSE:GM)

Toronto Dominion Bank grew its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 65.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 868,663 shares of the auto manufacturer’s stock after acquiring an additional 342,556 shares during the quarter. Toronto Dominion Bank owned 0.09% of General Motors worth $46,274,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Park Avenue Securities LLC increased its stake in General Motors by 23.9% in the 4th quarter. Park Avenue Securities LLC now owns 47,849 shares of the auto manufacturer’s stock worth $2,549,000 after purchasing an additional 9,231 shares during the period. Ritholtz Wealth Management increased its stake in shares of General Motors by 79.5% in the fourth quarter. Ritholtz Wealth Management now owns 15,564 shares of the auto manufacturer’s stock worth $829,000 after buying an additional 6,892 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in General Motors during the 4th quarter valued at $346,000. Relyea Zuckerberg Hanson LLC purchased a new stake in General Motors during the 4th quarter valued at $201,000. Finally, Merit Financial Group LLC grew its holdings in General Motors by 41.1% in the 4th quarter. Merit Financial Group LLC now owns 18,323 shares of the auto manufacturer’s stock worth $976,000 after acquiring an additional 5,335 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Up 0.5%

Shares of NYSE:GM opened at $50.36 on Friday. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The stock has a market capitalization of $48.42 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 0.67 and a beta of 1.36. The stock has a fifty day simple moving average of $46.85 and a two-hundred day simple moving average of $50.01. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.15. The company had revenue of $44.02 billion for the quarter, compared to analysts’ expectations of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. General Motors’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.62 EPS. On average, research analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its board has approved a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from General Motors’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 1.19%. General Motors’s dividend payout ratio is 8.65%.

Wall Street Analyst Weigh In

GM has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their target price on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Sanford C. Bernstein set a $36.00 price objective on General Motors in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft cut General Motors from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a research note on Monday, April 14th. The Goldman Sachs Group decreased their target price on General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, UBS Group reduced their price objective on shares of General Motors from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Four analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $54.56.

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.