CIBC Asset Management Inc Purchases 12,649 Shares of General Motors (NYSE:GM)

CIBC Asset Management Inc boosted its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,693 shares of the auto manufacturer's stock after acquiring an additional 12,649 shares during the period. CIBC Asset Management Inc's holdings in General Motors were worth $7,654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital World Investors boosted its position in shares of General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer's stock valued at $2,211,609,000 after purchasing an additional 6,201,777 shares in the last quarter. Swedbank AB bought a new position in shares of General Motors during the 1st quarter worth approximately $159,750,000. Artemis Investment Management LLP increased its stake in shares of General Motors by 581.4% in the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer's stock valued at $71,827,000 after acquiring an additional 1,366,768 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer's stock valued at $600,291,000 after acquiring an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in General Motors by 3,333.1% during the second quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer's stock worth $36,394,000 after acquiring an additional 760,523 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Insider Buying and Selling

In other news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now owns 126,907 shares of the company's stock, valued at $7,000,190.12. This represents a 49.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares of the company's stock, valued at approximately $489,942.36. This trade represents a 18.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 653,511 shares of company stock valued at $35,012,844. Company insiders own 0.72% of the company's stock.

General Motors Stock Performance

Shares of GM traded down $0.79 during mid-day trading on Monday, hitting $56.25. The stock had a trading volume of 12,270,042 shares, compared to its average volume of 14,898,046. General Motors has a 52 week low of $27.70 and a 52 week high of $59.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The business has a fifty day moving average price of $49.72 and a 200-day moving average price of $47.32. The firm has a market cap of $61.85 billion, a P/E ratio of 6.08, a PEG ratio of 0.43 and a beta of 1.40.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for 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%. The company's revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.28 earnings per share. On average, equities research analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. General Motors's dividend payout ratio is presently 5.12%.

Analyst Upgrades and Downgrades

GM has been the topic of several research reports. Sanford C. Bernstein upped their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a "market perform" rating in a report on Friday, October 25th. UBS Group increased their price target on General Motors from $58.00 to $62.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Nomura downgraded General Motors from a "neutral" rating to a "reduce" rating and set a $34.00 price objective for the company. in a report on Monday, August 5th. DZ Bank cut General Motors from a "buy" rating to a "hold" rating and set a $49.00 target price on the stock. in a report on Friday, October 11th. Finally, Wells Fargo & Company upped their price objective on shares of General Motors from $33.00 to $38.00 and gave the stock an "underweight" rating in a report on Wednesday, October 23rd. Four equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $56.92.

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.