Foster & Motley Inc. Buys 3,383 Shares of General Motors Company $GM

Foster & Motley Inc. raised its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 122,883 shares of the auto manufacturer’s stock after acquiring an additional 3,383 shares during the quarter. Foster & Motley Inc.’s holdings in General Motors were worth $6,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Trust Co. of Toledo NA OH acquired a new stake in General Motors in the 2nd quarter valued at $25,000. GFG Capital LLC acquired a new stake in General Motors in the 2nd quarter worth about $27,000. Costello Asset Management INC acquired a new stake in General Motors in the 1st quarter worth about $32,000. RMG Wealth Management LLC acquired a new position in shares of General Motors in the 2nd quarter valued at approximately $32,000. Finally, WPG Advisers LLC acquired a new position in shares of General Motors in the 1st quarter valued at approximately $34,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GM has been the subject of several analyst reports. Barclays boosted their target price on shares of General Motors from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. UBS Group upgraded shares of General Motors from a “neutral” rating to a “buy” rating and boosted their target price for the company from $56.00 to $81.00 in a research report on Wednesday, September 24th. Citigroup increased their price objective on shares of General Motors from $61.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of General Motors in a report on Wednesday, October 8th. Finally, Benchmark began coverage on General Motors in a report on Monday, July 21st. They set a “buy” rating and a $65.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Insider Activity

In other news, President Mark L. Reuss sold 136,161 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $60.12, for a total value of $8,185,999.32. Following the sale, the president directly owned 131,036 shares of the company’s stock, valued at approximately $7,877,884.32. This represents a 50.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mary T. Barra sold 753,720 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $59.95, for a total transaction of $45,185,514.00. Following the transaction, the chief executive officer directly owned 433,527 shares in the company, valued at approximately $25,989,943.65. This represents a 63.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,074,824 shares of company stock valued at $122,377,213. Company insiders own 0.54% of the company’s stock.

General Motors Trading Up 1.9%

Shares of NYSE GM opened at $58.40 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. General Motors Company has a 52-week low of $41.60 and a 52-week high of $62.14. The firm has a 50 day moving average price of $58.05 and a two-hundred day moving average price of $52.08. The stock has a market cap of $55.60 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $45.87 billion. During the same period in the prior year, the company posted $3.06 EPS. The company’s 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 forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, September 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. General Motors’s dividend payout ratio is currently 9.52%.

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.