Merit Financial Group LLC Buys 7,217 Shares of General Motors Company $GM

Merit Financial Group LLC increased its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 8.4% during the 3rd quarter, Holdings Channel reports. The firm owned 93,508 shares of the auto manufacturer’s stock after acquiring an additional 7,217 shares during the quarter. Merit Financial Group LLC’s holdings in General Motors were worth $5,701,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sowell Financial Services LLC grew its position in shares of General Motors by 2.9% during the 2nd quarter. Sowell Financial Services LLC now owns 6,834 shares of the auto manufacturer’s stock worth $336,000 after buying an additional 195 shares in the last quarter. Mayflower Financial Advisors LLC raised its holdings in shares of General Motors by 4.1% in the second quarter. Mayflower Financial Advisors LLC now owns 5,163 shares of the auto manufacturer’s stock valued at $254,000 after acquiring an additional 205 shares in the last quarter. Certuity LLC lifted its stake in General Motors by 3.6% in the second quarter. Certuity LLC now owns 6,043 shares of the auto manufacturer’s stock worth $297,000 after acquiring an additional 209 shares during the period. Private Trust Co. NA lifted its stake in General Motors by 4.8% in the second quarter. Private Trust Co. NA now owns 5,519 shares of the auto manufacturer’s stock worth $272,000 after acquiring an additional 253 shares during the period. Finally, Cromwell Holdings LLC grew its holdings in General Motors by 7.7% during the 2nd quarter. Cromwell Holdings LLC now owns 3,591 shares of the auto manufacturer’s stock worth $177,000 after acquiring an additional 256 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In other General Motors news, CAO Christopher Hatto sold 7,724 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $72.00, for a total value of $556,128.00. Following the completion of the transaction, the chief accounting officer owned 12,007 shares of the company’s stock, valued at approximately $864,504. This trade represents a 39.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Mark L. Reuss sold 260,600 shares of the business’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total transaction of $17,316,870.00. Following the sale, the president directly owned 98,006 shares in the company, valued at $6,512,498.70. This trade represents a 72.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 284,021 shares of company stock valued at $18,971,788 over the last quarter. 0.54% of the stock is owned by company insiders.

General Motors Stock Performance

Shares of GM stock opened at $81.37 on Friday. General Motors Company has a 12-month low of $41.60 and a 12-month high of $83.68. The business’s fifty day simple moving average is $74.77 and its 200-day simple moving average is $62.25. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.40. The company has a market cap of $75.91 billion, a PE ratio of 16.37, a PEG ratio of 0.74 and a beta of 1.31.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.48. General Motors had a return on equity of 12.29% and a net margin of 1.62%.The firm had revenue of $48.59 billion for the quarter, compared to the consensus estimate of $44.60 billion. During the same period in the previous year, the business earned $2.96 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Analysts expect that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Friday, December 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, December 5th. General Motors’s dividend payout ratio (DPR) is presently 12.07%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GM. JPMorgan Chase & Co. boosted their price target on shares of General Motors from $60.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. Tigress Financial boosted their price objective on shares of General Motors from $88.00 to $92.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 24th. The Goldman Sachs Group increased their target price on General Motors from $81.00 to $93.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Benchmark reissued a “buy” rating on shares of General Motors in a research report on Wednesday, October 22nd. Finally, Royal Bank Of Canada raised their price objective on General Motors from $77.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.76.

General Motors Profile

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.