General Motors Company $GM Shares Sold by Comerica Bank

Key Points

• Comerica Bank reduced its stake in General Motors by 5.9%, owning 220,186 shares worth approximately $10.36 million after selling 13,803 shares during the 1st quarter.
• General Motors reported a net revenue of $47.12 billion and an earnings per share (EPS) of $2.53 for the last quarter, which surpassed analysts' expectations.
• The company declared a $0.15 per share quarterly dividend, with the ex-dividend date set for September 5th, representing an annualized yield of 1.0%.

Comerica Bank cut its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 5.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 220,186 shares of the auto manufacturer's stock after selling 13,803 shares during the quarter. Comerica Bank's holdings in General Motors were worth $10,355,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cassia Capital Partners LLC raised its position in General Motors by 63.0% during the 1st quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock worth $879,000 after buying an additional 7,221 shares during the last quarter. AustralianSuper Pty Ltd increased its holdings in shares of General Motors by 38.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock valued at $287,428,000 after purchasing an additional 1,712,033 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of General Motors during the 1st quarter valued at approximately $312,000. Boston Partners purchased a new position in shares of General Motors during the 1st quarter valued at approximately $719,000. Finally, Malaga Cove Capital LLC purchased a new position in shares of General Motors during the 1st quarter valued at approximately $292,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

GM traded up $0.15 on Friday, hitting $58.64. 4,971,207 shares of the company's stock were exchanged, compared to its average volume of 6,737,402. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week 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. The firm has a 50-day moving average price of $53.53 and a 200-day moving average price of $49.58. The stock has a market cap of $55.83 billion, a price-to-earnings ratio of 9.31, a P/E/G ratio of 1.23 and a beta of 1.36.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. During the same quarter in the previous year, the company posted $3.06 EPS. The firm's quarterly revenue was down 1.8% on a year-over-year basis. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, equities analysts anticipate that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's payout ratio is 9.52%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GM. Mizuho lifted their target price on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Wedbush lifted their target price on shares of General Motors from $55.00 to $65.00 and gave the company an "outperform" rating in a report on Tuesday, August 19th. Bank of America cut their target price on shares of General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Industrial Alliance Securities set a $70.00 target price on shares of General Motors in a report on Friday, July 11th. Finally, UBS Group lifted their target price on shares of General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, General Motors has an average rating of "Hold" and a consensus price target of $58.05.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 87,839 shares of General Motors stock in a transaction on Friday, August 29th. The shares were sold at an average price of $58.13, for a total transaction of $5,106,081.07. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Christopher Hatto sold 14,667 shares of General Motors stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $59.00, for a total transaction of $865,353.00. Following the sale, the chief accounting officer directly owned 12,007 shares in the company, valued at approximately $708,413. This trade represents a 54.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,070,311 shares of company stock valued at $62,095,433 in the last 90 days. 0.54% of the stock is owned by insiders.

General Motors Company 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.