Brooklyn Investment Group Acquires 11,169 Shares of General Motors Company $GM

Key Points

• Bennett Investment Group increased its holdings in General Motors by 354%, acquiring an additional 11,169 shares, resulting in a total of 14,324 shares valued at approximately $674,000.
• General Motors' quarterly earnings per share of $2.53 exceeded analysts' expectations of $2.52, with a 12-month revenue decrease of 1.8% compared to the previous year.
• The company announced a $0.15 quarterly dividend, with a yield of 1.1%, scheduled for payment on September 18th to investors of record as of September 5th.

Brooklyn Investment Group boosted its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 354.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,324 shares of the auto manufacturer's stock after buying an additional 11,169 shares during the quarter. Brooklyn Investment Group's holdings in General Motors were worth $674,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GM. Vanguard Group Inc. increased its position in General Motors by 6.9% during the first 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 last quarter. Nuveen LLC acquired a new position in General Motors during the first quarter worth $175,889,000. Assenagon Asset Management S.A. increased its position in General Motors by 305.6% during the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after buying an additional 2,154,037 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in General Motors during the first quarter worth $86,900,000. Finally, AustralianSuper Pty Ltd increased its position in General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after buying an additional 1,712,033 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GM has been the topic of several analyst reports. Benchmark began coverage on shares of General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 target price on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a research report on Friday, July 11th. Bank of America lowered their price target on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. BNP Paribas raised General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, General Motors currently has an average rating of "Hold" and an average target price of $58.05.

General Motors Stock Performance

GM stock traded down $0.2350 during trading on Thursday, reaching $56.5350. 8,144,892 shares of the stock were exchanged, compared to its average volume of 7,324,140. General Motors Company has a twelve month low of $41.60 and a twelve month high of $61.24. The company has a market capitalization of $53.83 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 1.20 and a beta of 1.36. The stock has a 50 day simple moving average of $52.31 and a 200-day simple moving average of $49.12. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $45.87 billion. During the same period last year, the business earned $3.06 earnings per share. The firm'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. As a group, sell-side analysts anticipate that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. General Motors's dividend payout ratio (DPR) is 9.52%.

Insider Transactions at General Motors

In related news, CAO Christopher Hatto sold 36,804 shares of General Motors stock in a transaction dated 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 sale, the chief accounting officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 23,977 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the transaction, the executive vice president owned 8,513 shares of the company's stock, valued at approximately $451,274.13. This represents a 73.80% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

General Motors Company 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.