Commerce Bank Boosts Holdings in General Motors (NYSE:GM)

Commerce Bank boosted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 41,143 shares of the auto manufacturer’s stock after purchasing an additional 2,954 shares during the quarter. Commerce Bank’s holdings in General Motors were worth $1,845,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of General Motors during the second quarter valued at approximately $25,000. Catalyst Capital Advisors LLC purchased a new stake in General Motors during the 3rd quarter valued at $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors in the 2nd quarter worth $28,000. Fortitude Family Office LLC raised its stake in shares of General Motors by 56.1% in the second 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 last quarter. Finally, EdgeRock Capital LLC bought a new position in shares of General Motors during the second quarter valued at $33,000. 92.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on GM shares. Nomura Securities raised General Motors to a “strong sell” rating in a research report on Monday, August 5th. Wolfe Research started coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. The Goldman Sachs Group increased their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Wedbush raised their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research note on Friday, October 11th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, General Motors presently has an average rating of “Hold” and an average price target of $56.92.

Insider Buying and Selling

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction on Monday, November 18th. The shares were 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 directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Mark L. Reuss sold 122,283 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,034,351 shares of company stock valued at $56,601,268. Corporate insiders own 0.72% of the company’s stock.

General Motors Price Performance

NYSE GM opened at $58.53 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. General Motors has a 12 month low of $27.93 and a 12 month high of $59.39. The stock has a market cap of $64.36 billion, a price-to-earnings ratio of 6.24, a PEG ratio of 0.42 and a beta of 1.40. The company’s 50 day moving average is $50.74 and its two-hundred day moving average is $47.69.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results 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. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. General Motors’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.28 EPS. As a group, research analysts anticipate that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 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.