Fifth Third Bancorp Grows Position in General Motors Company $GM

Fifth Third Bancorp grew its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 311.1% during the first quarter, HoldingsChannel.com reports. The fund owned 236,740 shares of the auto manufacturer’s stock after acquiring an additional 179,157 shares during the quarter. Fifth Third Bancorp’s holdings in General Motors were worth $17,637,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Cibc World Market Inc. raised its position in General Motors by 57.2% during the fourth quarter. Cibc World Market Inc. now owns 200,662 shares of the auto manufacturer’s stock valued at $16,318,000 after purchasing an additional 72,984 shares during the period. M&T Bank Corp boosted its holdings in shares of General Motors by 82.0% in the 4th quarter. M&T Bank Corp now owns 72,062 shares of the auto manufacturer’s stock worth $5,860,000 after purchasing an additional 32,474 shares during the period. Legacy Capital Group California Inc. boosted its holdings in shares of General Motors by 206.4% in the 4th quarter. Legacy Capital Group California Inc. now owns 21,004 shares of the auto manufacturer’s stock worth $1,708,000 after purchasing an additional 14,150 shares during the period. Janney Montgomery Scott LLC increased its position in shares of General Motors by 16.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 202,172 shares of the auto manufacturer’s stock valued at $15,062,000 after purchasing an additional 28,163 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in shares of General Motors during the 4th quarter valued at approximately $17,753,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GM. Evercore restated an “outperform” rating and set a $100.00 price target on shares of General Motors in a report on Monday, May 4th. Wolfe Research raised shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $96.00 price objective for the company in a research note on Wednesday, March 25th. TD Cowen boosted their price objective on shares of General Motors from $122.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. increased their target price on shares of General Motors from $98.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of General Motors in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.27.

Insider Activity

In related news, CAO Christopher Hatto sold 6,895 shares of General Motors stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $85.00, for a total transaction of $586,075.00. Following the completion of the sale, the chief accounting officer owned 25,794 shares in the company, valued at $2,192,490. This trade represents a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mary T. Barra sold 99,239 shares of General Motors stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $85.10, for a total transaction of $8,445,238.90. Following the sale, the chief executive officer owned 592,242 shares of the company’s stock, valued at $50,399,794.20. The trade was a 14.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 697,388 shares of company stock valued at $57,752,596. 0.54% of the stock is currently owned by company insiders.

General Motors Trading Down 1.4%

Shares of NYSE GM opened at $76.77 on Tuesday. General Motors Company has a fifty-two week low of $48.87 and a fifty-two week high of $87.62. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.99 and a current ratio of 1.15. The company has a market cap of $69.22 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 0.39 and a beta of 1.31. The business’s 50 day moving average price is $78.91 and its 200-day moving average price is $79.05.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 28th. The auto manufacturer reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $1.09. The company had revenue of $43.62 billion during the quarter, compared to analysts’ expectations of $43.51 billion. General Motors had a return on equity of 16.68% and a net margin of 1.38%.General Motors’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.78 EPS. General Motors has set its FY 2026 guidance at 10.620-12.620 EPS. On average, sell-side analysts expect that General Motors Company will post 12.85 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, June 5th. General Motors’s payout ratio is currently 29.03%.

About General Motors

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.