Franklin Resources Inc. Reduces Holdings in General Motors Company $GM

Franklin Resources Inc. lowered its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,333,569 shares of the auto manufacturer’s stock after selling 402,619 shares during the period. Franklin Resources Inc. owned about 3.19% of General Motors worth $1,492,715,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in General Motors by 11.5% during the second quarter. Vanguard Group Inc. now owns 110,759,703 shares of the auto manufacturer’s stock worth $5,450,485,000 after buying an additional 11,418,367 shares during the period. AQR Capital Management LLC grew its position in shares of General Motors by 146.8% during the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer’s stock worth $629,196,000 after acquiring an additional 8,012,743 shares during the last quarter. Nuveen LLC acquired a new position in shares of General Motors in the 1st quarter valued at $175,889,000. Kingstone Capital Partners Texas LLC purchased a new stake in General Motors in the 2nd quarter valued at $125,583,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in General Motors by 17.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer’s stock worth $603,048,000 after purchasing an additional 1,910,186 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GM has been the topic of a number of recent research reports. Cowen restated a “buy” rating on shares of General Motors in a research note on Tuesday, October 21st. Benchmark restated a “buy” rating on shares of General Motors in a research report on Wednesday, October 22nd. UBS Group upped their price objective on General Motors from $81.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company lifted their target price on General Motors from $40.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, October 22nd. Finally, TD Cowen upped their price target on General Motors from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.00.

General Motors Stock Performance

NYSE GM opened at $68.01 on Friday. The stock has a market capitalization of $63.44 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.96 and a beta of 1.41. The business’s 50 day moving average is $63.41 and its two-hundred day moving average is $56.04. General Motors Company has a 12-month low of $41.60 and a 12-month high of $72.87. 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 posted its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 EPS for the quarter, beating 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 business had revenue of $48.59 billion during the quarter, compared to analysts’ expectations of $44.60 billion. During the same period last year, the firm earned $2.96 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Research analysts expect that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

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

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 260,600 shares of the stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total value of $17,316,870.00. Following the completion of the transaction, the president owned 98,006 shares in the company, valued at $6,512,498.70. This trade represents a 72.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mary T. Barra sold 907,024 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $58.24, for a total transaction of $52,825,077.76. Following the sale, 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,298,064 shares of company stock valued at $138,050,080 in the last ninety days. 0.54% of the stock is currently owned by company insiders.

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.