Commerzbank Aktiengesellschaft FI Purchases 1,838 Shares of General Motors (NYSE:GM)

Commerzbank Aktiengesellschaft FI raised its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 29.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,162 shares of the auto manufacturer’s stock after acquiring an additional 1,838 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in General Motors were worth $366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GM. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors in the second quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new stake in General Motors in the 2nd quarter worth $28,000. Fortitude Family Office LLC increased its holdings in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Montag A & Associates Inc. acquired a new position in shares of General Motors during the first quarter valued at about $30,000. Finally, EdgeRock Capital LLC bought a new stake in shares of General Motors in the second quarter valued at about $33,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Price Performance

Shares of GM stock opened at $52.70 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a 12 month low of $26.30 and a 12 month high of $54.29. The firm has a market cap of $60.13 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 0.56 and a beta of 1.42. The stock has a 50-day moving average price of $47.52 and a 200 day moving average price of $46.09.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the previous year, the firm posted $2.28 earnings per share. General Motors’s revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts expect that General Motors will post 9.95 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 9,307 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rory Harvey sold 9,307 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $459,787.13. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 531,228 shares of company stock worth $28,267,714. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on GM shares. Barclays raised their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada upped their target price on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. UBS Group upped their price objective on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Friday, October 11th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.97.

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.