State Board of Administration of Florida Retirement System Sells 26,077 Shares of General Motors Company $GM

State Board of Administration of Florida Retirement System decreased its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 947,771 shares of the auto manufacturer’s stock after selling 26,077 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.10% of General Motors worth $46,640,000 at the end of the most recent reporting period.

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

General Motors Stock Performance

GM opened at $73.64 on Friday. 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 52-week low of $41.60 and a 52-week high of $73.86. The firm has a market cap of $68.69 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 0.96 and a beta of 1.41. The business’s fifty day moving average is $65.02 and its 200-day moving average is $57.10.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share 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 business had revenue of $48.59 billion during the quarter, compared to analysts’ expectations of $44.60 billion. During the same quarter in the prior year, the business posted $2.96 earnings per share. General Motors’s 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. Sell-side analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

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 given a dividend of $0.15 per share. The ex-dividend date is Friday, December 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. General Motors’s dividend payout ratio (DPR) is currently 12.07%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GM. Wells Fargo & Company increased their target price on General Motors from $40.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of General Motors in a report on Tuesday, October 21st. Jefferies Financial Group increased their price objective on General Motors from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, October 6th. Wedbush set a $75.00 target price on shares of General Motors and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Benchmark reaffirmed a “buy” rating on shares of General Motors in a research report on Wednesday, October 22nd. Three investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, General Motors currently has a consensus rating of “Moderate Buy” and an average target price of $70.27.

Insider Activity

In other news, CAO Christopher Hatto sold 23,400 shares of General Motors stock in a transaction on Friday, September 26th. The stock was sold at an average price of $61.01, for a total value of $1,427,634.00. Following the transaction, the chief accounting officer owned 12,007 shares in the company, valued at approximately $732,547.07. This trade represents a 66.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 6,600 shares of the business’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $61.95, for a total value of $408,870.00. Following the transaction, the executive vice president directly owned 8,513 shares of the company’s stock, valued at $527,380.35. This trade represents a 43.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,288,534 shares of company stock valued at $79,253,568. 0.54% of the stock is owned by 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.