Trust Asset Management LLC Has $654,000 Holdings in General Motors Company (NYSE:GM)

Trust Asset Management LLC decreased its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 16.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,897 shares of the auto manufacturer’s stock after selling 2,698 shares during the quarter. Trust Asset Management LLC’s holdings in General Motors were worth $654,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of General Motors by 6.9% in the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer’s stock valued at $4,672,023,000 after acquiring an additional 6,395,375 shares in the last quarter. Nuveen LLC bought a new stake in General Motors in the 1st quarter valued at about $175,889,000. Assenagon Asset Management S.A. grew its position in shares of General Motors by 305.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer’s stock worth $134,457,000 after purchasing an additional 2,154,037 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of General Motors during the first quarter worth approximately $86,900,000. Finally, AustralianSuper Pty Ltd raised its position in shares of General Motors by 38.9% in the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock valued at $287,428,000 after buying an additional 1,712,033 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the sale, the executive vice president owned 8,513 shares in the company, valued at $451,274.13. The trade was a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GM shares. BNP Paribas upgraded General Motors to a “strong-buy” rating in a research note on Monday, May 5th. Barclays raised their price target on General Motors from $45.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Industrial Alliance Securities set a $70.00 price objective on shares of General Motors in a research report on Friday, July 11th. Citigroup boosted their target price on shares of General Motors from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Finally, CLSA raised shares of General Motors to a “moderate buy” rating in a report on Monday, July 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, General Motors presently has a consensus rating of “Hold” and an average target price of $57.53.

General Motors Stock Performance

Shares of GM stock opened at $53.52 on Monday. The business’s 50-day moving average price is $50.95 and its 200-day moving average price is $48.78. The firm has a market capitalization of $50.96 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 1.13 and a beta of 1.36. General Motors Company has a 12 month low of $41.60 and a 12 month high of $61.24. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. The firm had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.06 EPS. Equities research analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 annualized dividend and a yield of 1.1%. General Motors’s dividend payout ratio is currently 9.52%.

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.