General Motors (NYSE:GM) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 8.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 170,693 shares of the auto manufacturer’s stock after acquiring an additional 12,649 shares during the quarter. CIBC Asset Management Inc’s holdings in General Motors were worth $7,654,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Neumann Capital Management LLC lifted its holdings in shares of General Motors by 1.2% in the 3rd quarter. Neumann Capital Management LLC now owns 51,350 shares of the auto manufacturer’s stock worth $2,303,000 after acquiring an additional 600 shares during the last quarter. ING Groep NV acquired a new stake in General Motors during the 3rd quarter worth approximately $19,780,000. Metis Global Partners LLC lifted its holdings in General Motors by 0.6% during the 3rd quarter. Metis Global Partners LLC now owns 36,240 shares of the auto manufacturer’s stock worth $1,625,000 after buying an additional 230 shares in the last quarter. KBC Group NV lifted its holdings in General Motors by 14.6% during the 3rd quarter. KBC Group NV now owns 196,992 shares of the auto manufacturer’s stock worth $8,833,000 after buying an additional 25,117 shares in the last quarter. Finally, Hourglass Capital LLC lifted its holdings in General Motors by 14.3% during the 3rd quarter. Hourglass Capital LLC now owns 78,757 shares of the auto manufacturer’s stock worth $3,531,000 after buying an additional 9,840 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Down 1.0 %

GM stock opened at $57.04 on Monday. General Motors has a one year low of $27.42 and a one year high of $59.39. The stock has a market capitalization of $62.72 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The company has a fifty day moving average of $49.72 and a 200-day moving average of $47.32.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter last year, the business earned $2.28 EPS. The business’s revenue was up 10.5% on a year-over-year basis. As a group, analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 18.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 653,511 shares of company stock worth $35,012,844 over the last 90 days. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

GM has been the topic of a number of research reports. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a report on Monday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a research report on Friday, October 11th. Four 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.92.

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.