Perigon Wealth Management LLC Buys New Holdings in General Motors Company $GM

Perigon Wealth Management LLC purchased a new stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,603 shares of the auto manufacturer’s stock, valued at approximately $1,819,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new position in shares of General Motors in the 4th quarter valued at about $25,000. Evergreen Advisors LLC acquired a new stake in General Motors during the 1st quarter worth approximately $26,000. SouthState Bank Corp raised its holdings in General Motors by 101.7% in the fourth quarter. SouthState Bank Corp now owns 351 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 177 shares during the period. Kelleher Financial Advisors purchased a new position in General Motors in the third quarter valued at approximately $29,000. Finally, Kemnay Advisory Services Inc. acquired a new position in General Motors during the fourth quarter valued at approximately $30,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GM. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $100.00 price objective on shares of General Motors in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of General Motors from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. UBS Group reiterated a “buy” rating on shares of General Motors in a report on Wednesday, June 10th. Royal Bank Of Canada boosted their price objective on General Motors from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Finally, Tigress Financial upped their target price on General Motors from $92.00 to $130.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.41.

General Motors Stock Down 2.7%

Shares of NYSE:GM opened at $84.45 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 1.42. The company has a fifty day simple moving average of $81.67 and a 200 day simple moving average of $79.52. The firm has a market cap of $74.10 billion, a PE ratio of 42.65, a price-to-earnings-growth ratio of 0.40 and a beta of 1.30. General Motors Company has a 12-month low of $54.33 and a 12-month high of $91.85.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 21st. The auto manufacturer reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.38. General Motors had a net margin of 1.05% and a return on equity of 18.18%. The firm had revenue of $48.03 billion for the quarter, compared to analysts’ expectations of $47.01 billion. During the same period in the prior year, the company posted $2.53 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. General Motors has set its FY 2026 guidance at 12.000-14.000 EPS. On average, equities research analysts anticipate that General Motors Company will post 13.29 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Friday, September 4th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. General Motors’s payout ratio is currently 36.36%.

Insider Activity

In other news, EVP Grant Michael Dixton sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $88.44, for a total value of $3,537,600.00. Following the completion of the sale, the executive vice president directly owned 54,992 shares in the company, valued at approximately $4,863,492.48. The trade was a 42.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Christopher Hatto sold 6,895 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $90.00, for a total value of $620,550.00. Following the sale, the chief accounting officer directly owned 18,899 shares in the company, valued at approximately $1,700,910. This represents a 26.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,247,053 shares of company stock valued at $106,763,425 over the last three months. Company insiders own 0.44% of the company’s stock.

General Motors Company Profile

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.