General Motors Company $GM Stock Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. decreased its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 13.4% during the third quarter, HoldingsChannel reports. The firm owned 370,112 shares of the auto manufacturer’s stock after selling 57,491 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in General Motors were worth $28,501,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. PBU The Pension Fund of Early Childhood & Youth Educators boosted its holdings in shares of General Motors by 28.1% in the 3rd quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 422,525 shares of the auto manufacturer’s stock worth $32,534,000 after purchasing an additional 92,761 shares in the last quarter. Werba Rubin Papier Wealth Management bought a new position in shares of General Motors during the 3rd quarter valued at about $228,000. R Squared Ltd raised its holdings in shares of General Motors by 11.9% during the 3rd quarter. R Squared Ltd now owns 12,526 shares of the auto manufacturer’s stock valued at $965,000 after buying an additional 1,337 shares in the last quarter. Bingham Private Wealth LLC raised its holdings in shares of General Motors by 2.3% during the 3rd quarter. Bingham Private Wealth LLC now owns 6,872 shares of the auto manufacturer’s stock valued at $529,000 after buying an additional 155 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its position in General Motors by 10.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 53,717 shares of the auto manufacturer’s stock worth $4,136,000 after buying an additional 5,059 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

GM opened at $85.96 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.94 and a current ratio of 1.09. General Motors Company has a 52-week low of $67.06 and a 52-week high of $93.70. The stock has a market capitalization of $72.51 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 0.49 and a beta of 1.40. The stock’s 50 day moving average price is $83.54 and its 200-day moving average price is $80.99.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 20th. The auto manufacturer reported $3.70 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.01. The business had revenue of $50.02 billion for the quarter, compared to analysts’ expectations of $48.78 billion. General Motors had a net margin of 2.12% and a return on equity of 19.36%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.80 earnings per share. On average, equities research analysts predict that General Motors Company will post 13.36 EPS for the current year.

General Motors announced that its board has authorized a stock buyback plan on Tuesday, October 20th that permits the company to buy back $20 billion in shares. This buyback authorization permits the auto manufacturer to purchase up to 27.5% of its shares through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. General Motors’s payout ratio is presently 16.51%.

Insider Buying and Selling at General Motors

In related news, EVP Rory Harvey sold 16,513 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $89.64, for a total transaction of $1,480,225.32. Following the transaction, the executive vice president owned 12,000 shares in the company, valued at $1,075,680. The trade was a 57.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company upped their target price on General Motors from $60.00 to $61.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 22nd. Morgan Stanley decreased their price target on shares of General Motors from $101.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Benchmark reiterated a “buy” rating and issued a $105.00 price objective (up from $90.00) on shares of General Motors in a report on Tuesday, July 21st. Tigress Financial boosted their target price on General Motors from $130.00 to $132.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 28th. Finally, UBS Group dropped their target price on General Motors from $112.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.44.

General Motors News Summary

These are some of the GM news items that stood out recently:

• Negative Sentiment: GM warned that some performance all-wheel-drive electric SUVs could suddenly lose brake pressure, raising safety concerns and the possibility of added costs if a remedy is needed. Article: GM warns its performance all-wheel-drive electric SUVs can suddenly lose brake pressure
• Negative Sentiment: GM is recalling about 12,000 Express and Savana vans over steering-gear assembly issues, creating a potential repair expense and another quality-related concern. Article: GM recalls 12K Express and Savana vans for steering gear assembly issues
• Negative Sentiment: Industry data cited in a report put the average new-car monthly payment near $776 in September, the highest since December 2023. Stretched buyer budgets could weigh on vehicle affordability and demand, including for GM. Article: A $776 Car Payment Is a Warning for Ford and General Motors

General Motors Profile

General Motors Company designs, manufactures and sells cars, trucks, crossovers and sport utility vehicles. Its vehicle brands include Chevrolet, Buick, GMC and Cadillac, and its offerings also include vehicle parts, software and related services. GM Financial provides automotive financing and leasing products to customers and dealers. Founded in 1908, General Motors is headquartered in Detroit, Michigan. The company serves customers in North America and international markets, with operations and sales spanning multiple regions.