General Motors Company $GM Stock Position Trimmed by Covalis Capital LLP

Covalis Capital LLP trimmed its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 38.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 508,853 shares of the auto manufacturer’s stock after selling 318,923 shares during the period. General Motors accounts for about 3.0% of Covalis Capital LLP’s investment portfolio, making the stock its 8th biggest holding. Covalis Capital LLP’s holdings in General Motors were worth $25,041,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of General Motors by 456.1% in the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer’s stock valued at $2,062,000 after purchasing an additional 31,755 shares during the period. AE Wealth Management LLC increased its holdings in General Motors by 42.6% in the first quarter. AE Wealth Management LLC now owns 32,523 shares of the auto manufacturer’s stock valued at $1,530,000 after buying an additional 9,711 shares in the last quarter. Journey Strategic Wealth LLC lifted its position in shares of General Motors by 10.2% during the 1st quarter. Journey Strategic Wealth LLC now owns 4,760 shares of the auto manufacturer’s stock valued at $224,000 after acquiring an additional 441 shares during the period. Avantax Advisory Services Inc. boosted its stake in shares of General Motors by 3.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 71,131 shares of the auto manufacturer’s stock worth $3,345,000 after acquiring an additional 2,326 shares in the last quarter. Finally, Neo Ivy Capital Management increased its stake in General Motors by 229.1% in the 1st quarter. Neo Ivy Capital Management now owns 22,246 shares of the auto manufacturer’s stock valued at $1,046,000 after purchasing an additional 15,487 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GM shares. Cowen reissued a “buy” rating on shares of General Motors in a report on Tuesday, October 21st. Piper Sandler set a $66.00 target price on General Motors and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Wells Fargo & Company upped their price objective on General Motors from $40.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, October 22nd. Evercore ISI increased their price objective on General Motors from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Finally, Benchmark reiterated a “buy” rating on shares of General Motors in a research report on Wednesday, October 22nd. Three 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 6,600 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $61.95, for a total value of $408,870.00. Following the completion of the sale, the executive vice president owned 8,513 shares in the company, valued at approximately $527,380.35. This trade represents a 43.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mary T. Barra sold 753,720 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $59.95, for a total value of $45,185,514.00. Following the sale, the chief executive officer owned 433,527 shares in the company, valued at approximately $25,989,943.65. The trade was a 63.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,298,064 shares of company stock valued at $138,050,080 in the last quarter. Company insiders own 0.54% of the company’s stock.

General Motors Stock Up 3.2%

Shares of NYSE:GM opened at $70.20 on Friday. General Motors Company has a 12-month low of $41.60 and a 12-month high of $72.87. The stock’s 50-day moving average price is $63.65 and its two-hundred day moving average price is $56.29. The firm has a market cap of $65.49 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 0.96 and a beta of 1.41. 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 earnings per share 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 the consensus estimate of $44.60 billion. During the same quarter last year, the firm posted $2.96 earnings per share. General Motors’s revenue was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. On average, research analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s payout ratio is 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.