Mackenzie Financial Corp Sells 14,595 Shares of General Motors Company $GM

Mackenzie Financial Corp lowered its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 1.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 754,777 shares of the auto manufacturer’s stock after selling 14,595 shares during the quarter. Mackenzie Financial Corp’s holdings in General Motors were worth $37,143,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Trust Co. of Toledo NA OH purchased a new position in shares of General Motors in the second quarter worth $25,000. GFG Capital LLC bought a new stake in General Motors in the 2nd quarter worth $27,000. Costello Asset Management INC purchased a new position in shares of General Motors in the first quarter valued at about $32,000. RMG Wealth Management LLC bought a new position in shares of General Motors during the second quarter valued at about $32,000. Finally, WPG Advisers LLC bought a new position in shares of General Motors during the first quarter valued at about $34,000. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In related news, CAO Christopher Hatto sold 23,400 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $732,547.07. This trade represents a 66.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mary T. Barra sold 753,720 shares of General Motors stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $59.95, for a total value of $45,185,514.00. Following the transaction, the chief executive officer owned 433,527 shares of the company’s stock, valued at $25,989,943.65. The trade was a 63.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,288,534 shares of company stock worth $79,253,568 over the last three months. Company insiders own 0.54% of the company’s stock.

General Motors Price Performance

Shares of GM stock opened at $73.64 on Monday. The business’s fifty day moving average is $65.02 and its 200 day moving average is $57.19. The company has a quick ratio of 1.06, a current ratio of 1.23 and a debt-to-equity ratio of 1.40. The stock has a market cap of $68.69 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.96 and a beta of 1.41. General Motors Company has a twelve month low of $41.60 and a twelve month high of $73.86.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.48. The firm had revenue of $48.59 billion for the quarter, compared to analysts’ expectations of $44.60 billion. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.96 EPS. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Research analysts expect that General Motors Company will post 11.44 EPS 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 issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, December 5th. General Motors’s dividend payout ratio is 12.07%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GM. Wall Street Zen downgraded General Motors from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Argus set a $78.00 target price on General Motors in a research note on Thursday, October 23rd. JPMorgan Chase & Co. upped their target price on General Motors from $60.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. 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. Finally, Cowen reissued a “buy” rating on shares of General Motors in a research report on Tuesday, October 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, General Motors has a consensus rating of “Moderate Buy” and a consensus price target of $70.27.

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.