Allspring Global Investments Holdings LLC Purchases 172,619 Shares of General Motors Company $GM

Key Points

• Allspring Global Investments increased its GM stake by 20.6% in the third quarter, buying 172,619 shares and bringing its holdings to 1,011,982 shares, valued at about $80.3 million.
• GM reported quarterly earnings of $3.70 per share, slightly above estimates, while revenue of $50.02 billion also exceeded forecasts. Revenue rose 2.9% year over year.
• GM’s board authorized a $20 billion share-repurchase plan, allowing buybacks of up to 27.5% of shares; analysts’ consensus rating is “Moderate Buy,” with a $101.44 target price.

Allspring Global Investments Holdings LLC lifted its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 20.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,011,982 shares of the auto manufacturer's stock after buying an additional 172,619 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.12% of General Motors worth $80,260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in General Motors during the second quarter worth about $5,958,995,000. Dimensional Fund Advisors LP raised its stake in General Motors by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 14,225,518 shares of the auto manufacturer's stock valued at $1,059,668,000 after acquiring an additional 77,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in General Motors by 1.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,559,990 shares of the auto manufacturer's stock valued at $659,804,000 after purchasing an additional 101,885 shares during the last quarter. Bank of America Corp DE purchased a new stake in General Motors during the second quarter valued at about $629,465,000. Finally, Legal & General Group Plc purchased a new stake in General Motors during the second quarter valued at about $599,066,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 16,513 shares of the company's stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $89.64, for a total transaction of $1,480,225.32. Following the transaction, the executive vice president owned 12,000 shares in the company, valued at approximately $1,075,680. This represents a 57.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.44% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on GM. JPMorgan Chase & Co. cut their price target on General Motors from $120.00 to $110.00 and set an "overweight" rating for the company in a report on Monday, October 12th. Wall Street Zen downgraded General Motors from a "buy" rating to a "hold" rating in a research report on Saturday. Benchmark reissued a "buy" rating and set a $105.00 price objective (up from $90.00) on shares of General Motors in a research note on Tuesday, July 21st. Morgan Stanley reduced their target price on General Motors from $101.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, October 21st. Finally, Truist Financial set a $105.00 target price on General Motors in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, General Motors currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.44.

General Motors Stock Performance

General Motors stock opened at $89.60 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $75.58 billion, a PE ratio of 6.86, a P/E/G ratio of 0.52 and a beta of 1.40. The firm has a fifty day simple moving average of $83.41 and a two-hundred day simple moving average of $80.88. General Motors Company has a twelve month low of $67.06 and a twelve month high of $93.70.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, October 20th. The auto manufacturer reported $3.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.69 by $0.01. The firm had revenue of $50.02 billion for the quarter, compared to analysts' expectations of $48.78 billion. General Motors had a return on equity of 19.36% and a net margin of 2.12%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $2.80 earnings per share. Research analysts expect that General Motors Company will post 13.37 EPS for the current year.

General Motors declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 20th that permits the company to repurchase $20 billion in outstanding shares. This buyback authorization permits the auto manufacturer to repurchase up to 27.5% of its shares through open market purchases. Share buyback plans are often an indication that the company's management believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, December 4th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, December 4th. General Motors's payout ratio is presently 16.51%.

Key Headlines Impacting General Motors

Here are the key news stories impacting General Motors this week:

• Positive Sentiment: GM’s next-generation 2027 Silverado and Sierra pickups are expected to offer upgraded engines and higher-end trims, potentially supporting a more profitable product mix. Article: Can GM's Next-Generation Pickups Support Growth in 2027?
• Positive Sentiment: Rising OnStar subscriptions and Super Cruise adoption could expand recurring software revenue. GM also announced a new in-car AI assistant, adding to its technology offerings, though the revenue impact is not yet clear. Article: Can OnStar and Super Cruise Drive GM's Digital Revenue Growth? Article: GM just announced a new in-car AI assistant
• Positive Sentiment: A report highlighting GM’s $20 billion stock-buyback plan points to a potential boost to per-share value as the company reduces its share count. Article: Ford Yields Nearly 5%. GM Is Buying Back $20 Billion in Stock.
• Neutral Sentiment: GM Insurance plans to enter Maryland’s auto market, expanding its insurance business; the article does not specify the expected financial contribution. Article: GM Insurance to Enter Maryland Auto Market
• Negative Sentiment: GM is recalling 67,380 EVs after software briefly interrupted low-speed braking, raising safety concerns and potentially adding repair and warranty costs. A separate report also notes a recall affecting more than 87,000 vehicles. Article: GM Recalls Over 67,000 EVs For Brake Glitch Article: GM recalls more than 87,000 vehicles
• Negative Sentiment: A $220 million OnStar settlement tied to allegations that drivers were misled about the collection and sharing of their data creates a financial cost and continued privacy-related reputational risk. Article: General Motors Could Be 17% Undervalued After $220 Million OnStar Settlement

General Motors Company Profile

General Motors Company designs, manufactures and sells cars, trucks, crossovers and sport utility vehicles. Its vehicle brands include Chevrolet, Buick, GMC and Cadillac, and its offerings also include vehicle parts, software and related services. GM Financial provides automotive financing and leasing products to customers and dealers.

Founded in 1908, General Motors is headquartered in Detroit, Michigan. The company serves customers in North America and international markets, with operations and sales spanning multiple regions.

Mary Barra has served as GM's chief executive officer since 2014.

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