Goldman Sachs Group Inc. Boosts Stock Position in General Motors Company (NYSE:GM)

Goldman Sachs Group Inc. raised its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 12.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,447,099 shares of the auto manufacturer’s stock after purchasing an additional 1,020,386 shares during the quarter. Goldman Sachs Group Inc.’s holdings in General Motors were worth $444,297,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new position in General Motors during the 4th quarter worth $25,404,000. Cassia Capital Partners LLC raised its holdings in General Motors by 63.0% during the first quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer’s stock worth $879,000 after purchasing an additional 7,221 shares in the last quarter. AustralianSuper Pty Ltd raised its holdings in General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock worth $287,428,000 after purchasing an additional 1,712,033 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in General Motors in the first quarter valued at about $312,000. Finally, Malaga Cove Capital LLC purchased a new stake in General Motors in the 1st quarter valued at approximately $292,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GM shares. Sanford C. Bernstein set a $36.00 target price on General Motors in a research note on Monday, May 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of General Motors in a report on Friday, July 11th. Piper Sandler reissued a “neutral” rating and issued a $48.00 target price (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a research note on Friday, July 11th. Finally, BNP Paribas upgraded shares of General Motors to a “strong-buy” rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, General Motors has an average rating of “Hold” and a consensus price target of $57.53.

General Motors Trading Up 0.9%

Shares of General Motors stock opened at $52.93 on Friday. General Motors Company has a 1 year low of $41.09 and a 1 year high of $61.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The business has a 50 day moving average price of $50.87 and a 200 day moving average price of $48.85. The company has a market capitalization of $50.39 billion, a P/E ratio of 8.40, a P/E/G ratio of 1.11 and a beta of 1.36.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The company had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $45.87 billion. During the same period in the previous year, the firm posted $3.06 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Sell-side analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors’s dividend payout ratio (DPR) is currently 9.52%.

Insider Activity

In other news, EVP Rory Harvey sold 23,977 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the completion of the transaction, the executive vice president owned 8,513 shares of the company’s stock, valued at $451,274.13. The trade was a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.54% of the stock is owned by corporate insiders.

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.