General Motors Company $GM is Point72 Italy S.r.l.'s 7th Largest Position

Key Points

• Point72 Italy S.r.l. has reduced its stake in General Motors by 47.4%, now holding 116,200 shares, making it the firm's 7th largest position with a value of approximately $5.47 million.
• General Motors reported earnings of $2.53 per share for the last quarter, exceeding expectations, with revenue of $47.12 billion, although it marked a 1.8% decline from the prior year.
• The company declared a quarterly dividend of $0.15 per share, reflecting an annualized yield of 1.0% and a low dividend payout ratio of 9.52%.

Point72 Italy S.r.l. lowered its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 47.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 116,200 shares of the auto manufacturer's stock after selling 104,575 shares during the quarter. General Motors comprises about 5.4% of Point72 Italy S.r.l.'s holdings, making the stock its 7th biggest holding. Point72 Italy S.r.l.'s holdings in General Motors were worth $5,465,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. ICONIQ Capital LLC grew its holdings in shares of General Motors by 4.2% in the first quarter. ICONIQ Capital LLC now owns 5,434 shares of the auto manufacturer's stock valued at $256,000 after purchasing an additional 220 shares during the period. Hohimer Wealth Management LLC lifted its position in General Motors by 0.3% in the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock valued at $3,310,000 after buying an additional 230 shares during the last quarter. HHM Wealth Advisors LLC lifted its position in General Motors by 14.4% in the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer's stock valued at $86,000 after buying an additional 232 shares during the last quarter. Aaron Wealth Advisors LLC lifted its position in General Motors by 3.6% in the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock valued at $316,000 after buying an additional 235 shares during the last quarter. Finally, Burford Brothers Inc. lifted its position in General Motors by 2.8% in the first quarter. Burford Brothers Inc. now owns 8,718 shares of the auto manufacturer's stock valued at $410,000 after buying an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Stock Up 0.3%

Shares of NYSE:GM opened at $58.64 on Friday. The firm's 50 day moving average price is $53.53 and its 200 day moving average price is $49.59. The stock has a market cap of $55.83 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 1.24 and a beta of 1.36. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $61.24. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.01. The firm had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm's revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued 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 1.0%. General Motors's dividend payout ratio (DPR) is presently 9.52%.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 87,839 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $58.13, for a total transaction of $5,106,081.07. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the chief accounting officer directly owned 12,007 shares in the company, valued at approximately $708,413. The trade was a 54.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,070,311 shares of company stock valued at $62,095,433. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Bank of America decreased their target price on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Wells Fargo & Company increased their price target on shares of General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. Benchmark assumed coverage on shares of General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, General Motors presently has an average rating of "Hold" and an average 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.

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