Arnhold LLC Sells 71,970 Shares of General Motors Company $GM

Key Points

• Arnhold LLC reduced its holdings in General Motors by 19.9%, selling 71,970 shares, leaving them with a total of 289,935 shares, valued at approximately $14.27 million.
• General Motors reported earnings per share (EPS) of $2.53 in its last quarter, which exceeded estimates and marked a decrease from the previous year's $3.06 EPS.
• The company has recently declared a quarterly dividend of $0.15 per share, representing an annualized yield of 1.0% with a low dividend payout ratio of 9.52%.

Arnhold LLC trimmed its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 19.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 289,935 shares of the auto manufacturer's stock after selling 71,970 shares during the period. General Motors comprises approximately 1.3% of Arnhold LLC's holdings, making the stock its 26th largest holding. Arnhold LLC's holdings in General Motors were worth $14,268,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GM. AQR Capital Management LLC boosted its position in shares of General Motors by 146.8% in the 1st quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock worth $629,196,000 after purchasing an additional 8,012,743 shares during the last quarter. Vanguard Group Inc. raised its stake in General Motors by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock worth $4,672,023,000 after buying an additional 6,395,375 shares during the period. Nuveen LLC acquired a new stake in General Motors during the 1st quarter worth $175,889,000. Kingstone Capital Partners Texas LLC acquired a new stake in General Motors during the 2nd quarter worth $125,583,000. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in General Motors by 17.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer's stock worth $603,048,000 after buying an additional 1,910,186 shares during the period. 92.67% of the stock is currently owned by institutional investors.

General Motors Trading Up 1.9%

Shares of GM stock opened at $58.40 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The stock has a market cap of $55.60 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33. The stock has a 50 day simple moving average of $58.05 and a 200 day simple moving average of $52.08. General Motors Company has a 1 year low of $41.60 and a 1 year high of $62.14.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion during the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, research analysts predict that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, September 5th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. General Motors's dividend payout ratio is 9.52%.

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the transaction, the executive vice president directly owned 8,513 shares in the company, valued at approximately $451,274.13. This represents a 73.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christopher Hatto sold 36,804 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the transaction, the chief accounting officer owned 12,007 shares of the company's stock, valued at $661,585.70. This trade represents a 75.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,074,824 shares of company stock valued at $122,377,213 over the last three months. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on GM. Evercore ISI raised their price objective on General Motors from $55.00 to $68.00 and gave the stock an "outperform" rating in a research note on Monday, October 13th. Industrial Alliance Securities set a $70.00 price target on General Motors in a research note on Friday, July 11th. Bank of America dropped their price target on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Citigroup lifted their target price on General Motors from $61.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Finally, CLSA raised General Motors to a "moderate buy" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

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.

Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors Company (NYSE:GM - Free Report) TSE: GMM.U.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.