Ballentine Partners LLC Trims Stock Holdings in General Motors Company $GM

Key Points

• Ballentine Partners LLC reduced its stake in General Motors by 38.0%, holding 10,625 shares after selling 6,506 shares during the 2nd quarter, valued at $523,000.
• Multiple analysts have upgraded General Motors, with price targets increasing to between $65.00 and $73.00, indicating a strong market interest in the stock.
• The company announced a quarterly dividend of $0.15 per share, resulting in an annualized yield of 1.0% and a dividend payout ratio of 9.52%.

Ballentine Partners LLC reduced its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 38.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,625 shares of the auto manufacturer's stock after selling 6,506 shares during the period. Ballentine Partners LLC's holdings in General Motors were worth $523,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in General Motors by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock valued at $4,672,023,000 after acquiring an additional 6,395,375 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in General Motors by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer's stock worth $676,322,000 after purchasing an additional 316,196 shares during the last quarter. Invesco Ltd. lifted its stake in General Motors by 4.5% during the first quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock worth $646,482,000 after purchasing an additional 594,217 shares during the last quarter. AQR Capital Management LLC lifted its stake in 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 purchasing an additional 8,012,743 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in General Motors by 17.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer's stock valued at $603,048,000 after buying an additional 1,910,186 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on GM. CLSA upgraded General Motors to a "moderate buy" rating in a research note on Monday, July 7th. Barclays raised General Motors from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $55.00 to $73.00 in a report on Friday, September 12th. Wedbush upped their target price on General Motors from $55.00 to $65.00 and gave the company an "outperform" rating in a report on Tuesday, August 19th. The Goldman Sachs Group reissued a "buy" rating on shares of General Motors in a report on Friday, July 11th. Finally, Mizuho increased their price objective on General Motors from $58.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.53.

General Motors Stock Performance

General Motors stock opened at $61.24 on Friday. The stock's 50-day moving average is $56.38 and its 200-day moving average is $51.12. The company has a market cap of $58.31 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. General Motors Company has a 12 month low of $41.60 and a 12 month high of $61.98.

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

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, September 5th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, September 5th. General Motors's dividend payout ratio (DPR) is 9.52%.

Insiders Place Their Bets

In other General Motors news, CAO Christopher Hatto sold 14,667 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $59.00, for a total transaction of $865,353.00. Following the completion of the sale, the chief accounting officer owned 12,007 shares in the company, valued at $708,413. This trade represents a 54.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Mark L. Reuss sold 136,161 shares of the firm's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $60.12, for a total value of $8,185,999.32. Following the sale, the president owned 131,036 shares of the company's stock, valued at approximately $7,877,884.32. This trade represents a 50.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,044,824 shares of company stock worth $120,540,709 in the last quarter. Company insiders own 0.54% of the company's stock.

General Motors 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.

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