PNC Financial Services Group Inc. Reduces Position in General Motors Company $GM

PNC Financial Services Group Inc. trimmed its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 7.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 221,388 shares of the auto manufacturer’s stock after selling 17,340 shares during the period. PNC Financial Services Group Inc.’s holdings in General Motors were worth $10,894,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Mirova increased its position in General Motors by 4.1% in the first quarter. Mirova now owns 133,969 shares of the auto manufacturer’s stock worth $6,301,000 after buying an additional 5,293 shares in the last quarter. Capital Investment Advisors LLC grew its stake in shares of General Motors by 6.3% during the 2nd quarter. Capital Investment Advisors LLC now owns 8,811 shares of the auto manufacturer’s stock valued at $434,000 after acquiring an additional 526 shares during the period. AustralianSuper Pty Ltd increased its holdings in General Motors by 38.9% in the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock worth $287,428,000 after acquiring an additional 1,712,033 shares in the last quarter. Boston Partners bought a new stake in General Motors during the 1st quarter worth approximately $719,000. Finally, Malaga Cove Capital LLC purchased a new position in General Motors during the first quarter valued at approximately $292,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GM. Weiss Ratings cut shares of General Motors from a “buy (b-)” rating to a “hold (c)” rating in a research note on Saturday, October 25th. Wedbush set a $75.00 price target on General Motors and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada boosted their price objective on General Motors from $77.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Zacks Research raised General Motors from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Finally, Tigress Financial lifted their target price on General Motors from $88.00 to $92.00 and gave the company a “strong-buy” rating in a research note on Friday, October 24th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, General Motors has a consensus rating of “Moderate Buy” and an average price target of $70.00.

General Motors Price Performance

NYSE:GM opened at $70.52 on Friday. The company has a market capitalization of $65.79 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.96 and a beta of 1.41. The business’s 50-day moving average is $62.61 and its 200 day moving average is $55.47. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.40. General Motors Company has a 12 month low of $41.60 and a 12 month high of $72.87.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.48. The business had revenue of $48.59 billion for 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 company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.96 EPS. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. On average, equities research analysts forecast that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Mary T. Barra sold 907,024 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 552,238 shares in the company, valued at $32,162,341.12. The trade was a 62.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Christopher Hatto sold 23,400 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $61.01, for a total transaction of $1,427,634.00. Following the sale, the chief accounting officer owned 12,007 shares in the company, valued at $732,547.07. This represents a 66.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,298,064 shares of company stock valued at $138,050,080 in the last three months. Corporate insiders own 0.54% of the company’s stock.

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.