General Motors Company $GM Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in General Motors by 4.8% during the second quarter, now owning 226,258 shares worth approximately $11.13 million.
• Analysts have upgraded General Motors' stock price target significantly, with Wedbush raising it from $55 to $65 and UBS lifting it from $56 to $81, reflecting positive sentiment around the stock.
• CEO Mary Barra recently sold over 753,720 shares of GM stock, reducing her ownership by 63.48%, while total insider sales amounted to over $122 million in the last three months.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 226,258 shares of the auto manufacturer's stock after purchasing an additional 10,385 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in General Motors were worth $11,134,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sowell Financial Services LLC raised its holdings in General Motors by 2.9% during the second quarter. Sowell Financial Services LLC now owns 6,834 shares of the auto manufacturer's stock worth $336,000 after purchasing an additional 195 shares during the last quarter. ICONIQ Capital LLC raised its holdings in General Motors by 4.2% during the first quarter. ICONIQ Capital LLC now owns 5,434 shares of the auto manufacturer's stock worth $256,000 after purchasing an additional 220 shares during the last quarter. Hohimer Wealth Management LLC raised its holdings in General Motors by 0.3% during the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock worth $3,310,000 after purchasing an additional 230 shares during the last quarter. HHM Wealth Advisors LLC raised its holdings in General Motors by 14.4% during the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer's stock worth $86,000 after purchasing an additional 232 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its position in General Motors by 3.6% during the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock worth $316,000 after buying an additional 235 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GM shares. Wedbush raised their price target on General Motors from $55.00 to $65.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Citigroup raised their price target on General Motors from $61.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Wells Fargo & Company raised their price target on General Motors from $38.00 to $40.00 and gave the stock an "underweight" rating in a research report on Friday. Royal Bank Of Canada reissued an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. Finally, UBS Group raised General Motors from a "neutral" rating to a "buy" rating and raised their price target for the stock from $56.00 to $81.00 in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, General Motors has an average rating of "Moderate Buy" and a consensus target price of $63.26.

General Motors Price Performance

Shares of NYSE:GM opened at $60.07 on Friday. The company has a market cap of $57.19 billion, a P/E ratio of 9.54, a P/E/G ratio of 1.27 and a beta of 1.33. 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 Company has a 52 week low of $41.60 and a 52 week high of $62.14. The business has a fifty day simple moving average of $57.22 and a 200-day simple moving average of $51.55.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 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 the consensus estimate of $45.87 billion. During the same quarter in the previous year, the business earned $3.06 earnings per share. The business's revenue for the quarter was down 1.8% on a year-over-year basis. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Equities research analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, September 5th were given 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 of this dividend was Friday, September 5th. General Motors's payout ratio is 9.52%.

Insider Transactions at General Motors

In other General Motors news, CEO Mary T. Barra sold 753,720 shares of the business's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $59.95, for a total transaction of $45,185,514.00. Following the completion of the sale, the chief executive officer owned 433,527 shares of the company's stock, valued at approximately $25,989,943.65. The trade was a 63.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 136,161 shares of the business's stock in a transaction dated 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 directly 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 sold a total of 2,074,824 shares of company stock worth $122,377,213 in the last three months. 0.54% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.