General Motors Company $GM Shares Bought by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its stake in General Motors by 50.6%, owning approximately 2.6 million shares valued at $122.7 million as of the most recent SEC filing.
• CEO Mary T. Barra sold 907,024 shares of GM stock, reducing her ownership by 62.16%, while the total insider selling over the last three months amounted to 1.07 million shares valued at over $62 million.
• General Motors reported quarterly earnings of $2.53 EPS, surpassing estimates, and has set its FY 2025 earnings guidance between 8.250-10.000 EPS.

Canada Pension Plan Investment Board raised its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 50.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,609,851 shares of the auto manufacturer's stock after purchasing an additional 877,362 shares during the period. Canada Pension Plan Investment Board owned about 0.27% of General Motors worth $122,741,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Measured Risk Portfolios Inc. purchased a new position in shares of General Motors during the 4th quarter worth about $27,000. Costello Asset Management INC purchased a new position in shares of General Motors during the 1st quarter worth about $32,000. WPG Advisers LLC purchased a new position in shares of General Motors during the 1st quarter worth about $34,000. North Capital Inc. purchased a new position in shares of General Motors during the 1st quarter worth about $40,000. Finally, SouthState Corp lifted its holdings in shares of General Motors by 914.4% during the 1st quarter. SouthState Corp now owns 984 shares of the auto manufacturer's stock worth $46,000 after acquiring an additional 887 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Mary T. Barra sold 907,024 shares of General Motors stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $58.24, for a total value of $52,825,077.76. Following the completion of the transaction, the chief executive officer directly owned 552,238 shares of the company's stock, valued at approximately $32,162,341.12. The trade was a 62.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 23,977 shares of the business'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 transaction, the executive vice president directly 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. In the last three months, insiders sold 1,070,311 shares of company stock valued at $62,095,433. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

GM has been the topic of several recent analyst reports. Industrial Alliance Securities set a $70.00 price objective on shares of General Motors in a report on Friday, July 11th. Barclays increased their price objective on shares of General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of General Motors in a report on Friday, July 11th. Benchmark started coverage on shares of General Motors in a report on Monday, July 21st. They set a "buy" rating and a $65.00 price objective on the stock. Finally, Sanford C. Bernstein set a $36.00 target price on shares of General Motors in a research report on Monday, May 5th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $58.05.

General Motors Stock Up 0.3%

Shares of GM stock traded up $0.15 during mid-day trading on Monday, reaching $58.64. 4,971,207 shares of the company were exchanged, compared to its average volume of 6,509,005. The company has a market capitalization of $55.83 billion, a P/E ratio of 9.31, a P/E/G ratio of 1.24 and a beta of 1.32. The business's 50 day simple moving average is $53.73 and its 200 day simple moving average is $49.68. 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 Company has a fifty-two week low of $41.60 and a fifty-two week high of $61.24.

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

General Motors Dividend Announcement

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

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.