General Motors Company $GM Shares Bought by CacheTech Inc.

Key Points

• CacheTech Inc. increased its stake in General Motors by 12.0%, owning a total of 59,801 shares valued at approximately $2.81 million as of the latest SEC filing.
• Analysts have set new price targets for General Motors, with JPMorgan raising it from $56.00 to $60.00, while Bank of America decreased their target to $62.00, maintaining a "buy" rating.
• General Motors announced a quarterly dividend of $0.15 per share, representing an annualized dividend yield of 1.1% with a payout ratio of 9.52%.

CacheTech Inc. grew its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 12.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,801 shares of the auto manufacturer's stock after acquiring an additional 6,425 shares during the quarter. CacheTech Inc.'s holdings in General Motors were worth $2,812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GM. Cresset Asset Management LLC increased its position in shares of General Motors by 0.7% during the 1st quarter. Cresset Asset Management LLC now owns 275,010 shares of the auto manufacturer's stock worth $12,934,000 after purchasing an additional 1,828 shares during the last quarter. American Century Companies Inc. increased its position in shares of General Motors by 17.6% during the 1st quarter. American Century Companies Inc. now owns 2,066,878 shares of the auto manufacturer's stock worth $97,205,000 after purchasing an additional 308,617 shares during the last quarter. Ethic Inc. grew its position in General Motors by 7.1% in the 1st quarter. Ethic Inc. now owns 71,810 shares of the auto manufacturer's stock valued at $3,394,000 after acquiring an additional 4,753 shares in the last quarter. Aberdeen Group plc grew its position in General Motors by 112.6% in the 1st quarter. Aberdeen Group plc now owns 1,814,808 shares of the auto manufacturer's stock valued at $85,187,000 after acquiring an additional 961,379 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased 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 period. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Christopher Hatto sold 36,804 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total value of $2,027,900.40. Following the completion of the sale, the chief accounting officer owned 12,007 shares in the company, valued at approximately $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 can be accessed through this link. Also, EVP Rory Harvey sold 23,977 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the completion of the sale, the executive vice president owned 8,513 shares of the company's stock, valued at approximately $451,274.13. This trade represents a 73.80% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

General Motors Trading Up 1.4%

NYSE GM traded up $0.7860 during trading hours on Tuesday, hitting $57.0160. 5,986,445 shares of the company's stock were exchanged, compared to its average volume of 9,634,306. The business's 50 day moving average is $51.87 and its 200-day moving average is $48.95. General Motors Company has a 12-month low of $41.60 and a 12-month high of $61.24. The firm has a market capitalization of $54.28 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 1.19 and a beta of 1.36. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping the consensus estimate of $2.52 by $0.01. The company had revenue of $47.12 billion during the quarter, compared to analyst estimates 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 was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, September 5th. This represents a $0.60 annualized dividend and a yield of 1.1%. General Motors's dividend payout ratio is currently 9.52%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GM. Industrial Alliance Securities set a $70.00 price objective on General Motors in a research note on Friday, July 11th. Barclays boosted their target price on General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Piper Sandler restated a "neutral" rating and set a $48.00 target price (up previously from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. JPMorgan Chase & Co. boosted their target price on General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Mizuho lifted their price target on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, General Motors has a consensus rating of "Hold" and a consensus price target of $58.05.

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.