New York Life Investment Management LLC Sells 1,841 Shares of General Motors Company $GM

New York Life Investment Management LLC reduced its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 135,252 shares of the auto manufacturer’s stock after selling 1,841 shares during the period. New York Life Investment Management LLC’s holdings in General Motors were worth $6,656,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new position in General Motors during the 2nd quarter worth $25,000. GFG Capital LLC bought a new position in General Motors during the 2nd quarter worth $27,000. RMG Wealth Management LLC bought a new position in General Motors during the 2nd quarter worth $32,000. Costello Asset Management INC bought a new position in General Motors during the 1st quarter worth $32,000. Finally, WPG Advisers LLC bought a new position in General Motors during the 1st quarter worth $34,000. 92.67% of the stock is owned by institutional investors.

General Motors Stock Performance

Shares of GM opened at $69.07 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 1.06. The stock has a 50-day moving average of $59.84 and a 200-day moving average of $53.44. The company has a market cap of $64.43 billion, a PE ratio of 13.90, a P/E/G ratio of 0.97 and a beta of 1.33. General Motors Company has a one year low of $41.60 and a one year high of $70.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 EPS for the quarter, beating the consensus estimate of $2.32 by $0.48. The company had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $44.60 billion. General Motors had a return on equity of 12.29% and a net margin of 1.62%.The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the business posted $2.96 EPS. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. On average, equities research analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be paid a $0.15 dividend. The ex-dividend date is Friday, December 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. General Motors’s dividend payout ratio (DPR) is currently 12.07%.

Analyst Ratings Changes

GM has been the subject of a number of recent analyst reports. Weiss Ratings downgraded General Motors from a “buy (b-)” rating to a “hold (c)” rating in a report on Saturday, October 25th. JPMorgan Chase & Co. increased their price target on General Motors from $60.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, September 30th. TD Cowen increased their price target on General Motors from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. UBS Group increased their price target on General Motors from $81.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Cowen reiterated a “buy” rating on shares of General Motors in a report on Tuesday, October 21st. Three investment 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 given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.00.

Insider Transactions at General Motors

In other General Motors news, CAO Christopher Hatto sold 23,400 shares of General Motors stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $61.01, for a total transaction of $1,427,634.00. Following the completion of the transaction, the chief accounting officer owned 12,007 shares in the company, valued at approximately $732,547.07. The trade was a 66.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rory Harvey sold 6,600 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 8,513 shares of the company’s stock, valued at $527,380.35. This represents a 43.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 2,335,424 shares of company stock valued at $139,694,083. 0.54% of the stock is currently owned by corporate insiders.

About General Motors

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.