General Motors Company $GM Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC lessened its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,232 shares of the auto manufacturer’s stock after selling 549 shares during the period. Carret Asset Management LLC’s holdings in General Motors were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of GM. AQR Capital Management LLC boosted its stake in shares of General Motors by 146.8% during the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer’s stock worth $629,196,000 after buying an additional 8,012,743 shares during the period. Vanguard Group Inc. raised its stake in shares of General Motors by 6.9% during the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer’s stock worth $4,672,023,000 after purchasing an additional 6,395,375 shares during the last quarter. Nuveen LLC purchased a new stake in shares of General Motors during the first quarter worth approximately $175,889,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of General Motors during the second quarter worth approximately $125,583,000. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of General Motors by 17.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer’s stock worth $603,048,000 after purchasing an additional 1,910,186 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Price Performance

GM stock opened at $68.69 on Friday. The firm has a 50 day moving average of $60.09 and a 200-day moving average of $53.54. General Motors Company has a 12-month low of $41.60 and a 12-month high of $70.24. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.40. The company has a market cap of $64.07 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 0.96 and a beta of 1.33.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The company had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $44.60 billion. During the same period last year, the firm earned $2.96 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. As a group, equities 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. Stockholders of record on Friday, December 5th will be given a $0.15 dividend. The ex-dividend date is Friday, December 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. General Motors’s dividend payout ratio (DPR) is currently 12.07%.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was 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 in the company, valued at $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mary T. Barra sold 907,024 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $58.24, for a total value of $52,825,077.76. Following the completion of the transaction, the chief executive officer owned 552,238 shares of the company’s stock, valued at approximately $32,162,341.12. This represents a 62.16% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,351,121 shares of company stock worth $140,792,873. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the subject of several analyst reports. CLSA upgraded General Motors to a “moderate buy” rating in a research note on Monday, July 7th. Wall Street Zen upgraded shares of General Motors from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Bank of America reduced their price objective on shares of General Motors from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Mizuho set a $76.00 price objective on shares of General Motors in a research report on Wednesday, October 22nd. Finally, Cowen restated a “buy” rating on shares of General Motors in a research report on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, General Motors has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

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.