OVERSEA CHINESE BANKING Corp Ltd Increases Stock Position in General Motors Company $GM

OVERSEA CHINESE BANKING Corp Ltd grew its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 24.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,722 shares of the auto manufacturer’s stock after purchasing an additional 14,122 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in General Motors were worth $3,578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sowell Financial Services LLC raised its holdings in shares of General Motors by 2.9% in the second quarter. Sowell Financial Services LLC now owns 6,834 shares of the auto manufacturer’s stock valued at $336,000 after purchasing an additional 195 shares during the last quarter. ICONIQ Capital LLC increased its holdings in General Motors by 4.2% during the first quarter. ICONIQ Capital LLC now owns 5,434 shares of the auto manufacturer’s stock worth $256,000 after buying an additional 220 shares during the last quarter. Hohimer Wealth Management LLC increased its holdings in General Motors by 0.3% during the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer’s stock worth $3,310,000 after buying an additional 230 shares during the last quarter. HHM Wealth Advisors LLC increased its holdings in General Motors by 14.4% during the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer’s stock worth $86,000 after buying an additional 232 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its holdings in General Motors by 3.6% during the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer’s stock worth $316,000 after buying an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 0.4%

Shares of GM opened at $69.36 on Tuesday. The firm has a market cap of $64.70 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.96 and a beta of 1.33. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.06 and a current ratio of 1.23. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $69.70. The firm has a 50 day moving average price of $59.34 and a 200-day moving average price of $53.08.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $44.60 billion. During the same period in the previous year, the firm earned $2.96 earnings per share. 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. As a group, equities research analysts forecast that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GM. Citigroup raised their price objective on shares of General Motors from $75.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Cowen restated a “buy” rating on shares of General Motors in a report on Tuesday, October 21st. Argus set a $78.00 price objective on shares of General Motors in a report on Thursday. UBS Group raised their price objective on shares of General Motors from $81.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Tigress Financial lifted their target price 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. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

Insider Activity

In related news, EVP Rory Harvey sold 23,977 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the transaction, the executive vice president owned 8,513 shares in the company, valued at $451,274.13. The trade was a 73.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christopher Hatto sold 36,804 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was 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 approximately $661,585.70. The trade was a 75.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,335,424 shares of company stock worth $139,694,083. 0.54% of the stock is currently owned by company insiders.

General Motors Company 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.