Commerzbank Aktiengesellschaft FI Increases Stock Holdings in General Motors (NYSE:GM)

Commerzbank Aktiengesellschaft FI boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,324 shares of the auto manufacturer’s stock after buying an additional 282 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in General Motors were worth $294,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GM. SJS Investment Consulting Inc. boosted its position in shares of General Motors by 34.5% during the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after buying an additional 203 shares during the period. Fortitude Family Office LLC grew its position in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares during the last quarter. SeaCrest Wealth Management LLC grew its position in General Motors by 3.5% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after acquiring an additional 227 shares during the last quarter. Beech Hill Advisors Inc. increased its stake in General Motors by 1.6% in the second quarter. Beech Hill Advisors Inc. now owns 15,233 shares of the auto manufacturer’s stock worth $708,000 after purchasing an additional 233 shares during the period. Finally, Unison Advisors LLC boosted its stake in shares of General Motors by 0.4% during the first quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock valued at $3,047,000 after purchasing an additional 246 shares during the period. 92.67% of the stock is currently owned by institutional investors.

General Motors Price Performance

GM stock traded up $0.58 during trading on Wednesday, hitting $46.56. The stock had a trading volume of 11,071,131 shares, compared to its average volume of 15,731,584. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. The company’s 50-day moving average price is $45.94 and its two-hundred day moving average price is $43.93. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The stock has a market capitalization of $53.12 billion, a P/E ratio of 5.69, a PEG ratio of 0.44 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.91 earnings per share. As a group, research analysts predict that General Motors will post 9.94 EPS for the current fiscal year.

General Motors announced that its Board of Directors has initiated a stock buyback program on Tuesday, June 11th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. General Motors’s payout ratio is 5.87%.

Insider Buying and Selling

In other news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the sale, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the sale, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 150,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,152,621 shares of company stock worth $51,818,111. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GM shares. Wells Fargo & Company raised their price target on General Motors from $32.00 to $34.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reduced their price target on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Piper Sandler increased their price objective on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Bank of America reissued a “buy” rating and issued a $75.00 price objective on shares of General Motors in a research note on Wednesday, June 12th. Finally, StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.17.

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.