Cullen Frost Bankers Inc. Lowers Position in General Motors Company $GM

Cullen Frost Bankers Inc. trimmed its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 41.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,022 shares of the auto manufacturer’s stock after selling 1,427 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in General Motors were worth $100,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Jackson Thornton Wealth Management LLC purchased a new stake in General Motors in the second quarter valued at approximately $329,000. Princeton Global Asset Management LLC grew its holdings in General Motors by 28.3% in the second quarter. Princeton Global Asset Management LLC now owns 1,373 shares of the auto manufacturer’s stock valued at $68,000 after purchasing an additional 303 shares during the period. Evermay Wealth Management LLC grew its holdings in General Motors by 19.4% in the second quarter. Evermay Wealth Management LLC now owns 1,710 shares of the auto manufacturer’s stock valued at $84,000 after purchasing an additional 278 shares during the period. Sentry Investment Management LLC purchased a new stake in General Motors in the second quarter valued at approximately $164,000. Finally, Cidel Asset Management Inc. grew its holdings in General Motors by 1.2% in the second quarter. Cidel Asset Management Inc. now owns 28,302 shares of the auto manufacturer’s stock valued at $1,393,000 after purchasing an additional 346 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GM shares. CLSA upgraded shares of General Motors to a “moderate buy” rating in a research note on Monday, July 7th. Benchmark reiterated a “buy” rating on shares of General Motors in a research note on Wednesday. UBS Group boosted their price objective on shares of General Motors from $81.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings downgraded shares of General Motors from a “buy (b-)” rating to a “hold (c)” rating in a research note on Saturday. Finally, Royal Bank Of Canada boosted their price objective on shares of General Motors from $77.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, General Motors has an average rating of “Moderate Buy” and a consensus price target of $70.00.

General Motors Price Performance

Shares of GM stock opened at $69.60 on Friday. The company has a market capitalization of $64.92 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.35 and a beta of 1.33. The firm has a fifty day simple moving average of $59.08 and a 200-day simple moving average of $52.86. The company has a current ratio of 1.23, a quick ratio of 1.05 and a debt-to-equity ratio of 1.40. General Motors Company has a twelve month low of $41.60 and a twelve month high of $69.70.

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, beating the consensus estimate of $2.32 by $0.48. The business had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $44.60 billion. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.96 earnings per share. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Equities research analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, December 5th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.60 annualized dividend and a yield of 0.9%. General Motors’s dividend payout ratio is currently 12.07%.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 6,600 shares of the company’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $61.95, for a total value of $408,870.00. Following the sale, the executive vice president directly owned 8,513 shares of the company’s stock, valued at $527,380.35. This represents a 43.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christopher Hatto sold 23,400 shares of the company’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $61.01, for a total transaction of $1,427,634.00. Following the completion of the sale, the chief accounting officer directly owned 12,007 shares in the company, valued at $732,547.07. This represents a 66.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,335,424 shares of company stock valued at $139,694,083. Insiders own 0.54% of the company’s stock.

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.