AustralianSuper Pty Ltd Sells 891,663 Shares of General Motors Company $GM

AustralianSuper Pty Ltd lowered its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 14.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,219,919 shares of the auto manufacturer’s stock after selling 891,663 shares during the quarter. General Motors accounts for about 1.3% of AustralianSuper Pty Ltd’s investment portfolio, making the stock its 16th biggest position. AustralianSuper Pty Ltd’s holdings in General Motors were worth $256,872,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH bought a new stake in General Motors in the second quarter valued at about $25,000. GFG Capital LLC bought a new stake in General Motors in the second quarter valued at about $27,000. Costello Asset Management INC bought a new stake in General Motors in the first quarter valued at about $32,000. RMG Wealth Management LLC bought a new stake in General Motors in the second quarter valued at about $32,000. Finally, WPG Advisers LLC acquired a new position in General Motors in the first quarter valued at about $34,000. Institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In other news, CEO Mary T. Barra sold 907,024 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $58.24, for a total transaction of $52,825,077.76. Following the transaction, the chief executive officer directly owned 552,238 shares in the company, valued at approximately $32,162,341.12. This represents a 62.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christopher Hatto sold 36,804 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the completion of the transaction, the chief accounting officer owned 12,007 shares in the company, valued at $661,585.70. This represents a 75.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,335,424 shares of company stock valued at $139,694,083 over the last ninety days. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the topic of a number of recent analyst reports. Cowen restated a “buy” rating on shares of General Motors in a research report on Tuesday, October 21st. Benchmark restated a “buy” rating on shares of General Motors in a research report on Wednesday. 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 research report on Tuesday, September 30th. Wedbush set a $75.00 price target on shares of General Motors and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group boosted their price target on shares of General Motors from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently 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 Monday. General Motors Company has a 1 year low of $41.60 and a 1 year high of $69.70. The firm’s 50 day moving average is $59.08 and its 200-day moving average is $52.91. The firm has a market capitalization of $64.92 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.96 and a beta of 1.33. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.40.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The company had revenue of $48.59 billion for the quarter, compared to analyst estimates of $44.60 billion. During the same period in the prior year, the business earned $2.96 earnings per share. General Motors’s quarterly revenue was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Sell-side analysts forecast that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, December 5th. General Motors’s dividend payout ratio is presently 12.07%.

General Motors 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.