General Motors Company $GM Shares Sold by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. reduced its stake in General Motors by 12.3% during the 2nd quarter, holding 449,326 shares worth approximately $22.1 million after selling 63,136 shares.
• General Motors reported earnings of $2.80 per share for the recent quarter, surpassing expectations, with quarterly revenue of $48.59 billion, slightly down from last year.
• The company has declared a quarterly dividend of $0.15 per share, to be paid on December 18th, providing a 0.9% yield based on its annualized dividend payout.

Asset Management One Co. Ltd. decreased its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 12.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 449,326 shares of the auto manufacturer's stock after selling 63,136 shares during the period. Asset Management One Co. Ltd.'s holdings in General Motors were worth $22,111,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mirova raised its holdings in General Motors by 4.1% in the first quarter. Mirova now owns 133,969 shares of the auto manufacturer's stock valued at $6,301,000 after buying an additional 5,293 shares during the period. Capital Investment Advisors LLC raised its holdings in General Motors by 6.3% in the second quarter. Capital Investment Advisors LLC now owns 8,811 shares of the auto manufacturer's stock valued at $434,000 after buying an additional 526 shares during the period. AustralianSuper Pty Ltd raised its holdings in General Motors by 38.9% in the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock valued at $287,428,000 after buying an additional 1,712,033 shares during the period. Boston Partners purchased a new position in General Motors in the first quarter valued at approximately $719,000. Finally, Malaga Cove Capital LLC purchased a new position in General Motors in the first quarter valued at approximately $292,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Stock Performance

GM stock opened at $69.60 on Friday. The company has a market capitalization of $64.92 billion, a P/E ratio of 14.00, a PEG ratio of 1.35 and a beta of 1.33. The company has a 50-day simple moving average of $59.08 and a 200 day simple moving average of $52.86. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $69.70. The company has a quick ratio of 1.05, a current ratio of 1.23 and a debt-to-equity ratio of 1.40.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.48. The business had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $44.60 billion. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The company's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.96 earnings per share. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Sell-side analysts predict that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. General Motors's dividend payout ratio is presently 12.07%.

Insider Buying and Selling at General Motors

In other General Motors news, President Mark L. Reuss sold 260,600 shares of the company's stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total value of $17,316,870.00. Following the completion of the sale, the president directly owned 98,006 shares of the company's stock, valued at approximately $6,512,498.70. This represents a 72.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 6,600 shares of the company's stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $61.95, for a total transaction of $408,870.00. Following the completion of the sale, the executive vice president directly owned 8,513 shares of the company's stock, valued at $527,380.35. The trade was a 43.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,335,424 shares of company stock valued at $139,694,083 over the last 90 days. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Tigress Financial lifted their price objective on shares of General Motors from $88.00 to $92.00 and gave the company a "strong-buy" rating in a research note on Friday. Royal Bank Of Canada lifted their price target on shares of General Motors from $77.00 to $86.00 and gave the stock an "outperform" rating in a research note on Wednesday. Wells Fargo & Company lifted their price objective on shares of General Motors from $40.00 to $46.00 and gave the stock an "underweight" rating in a report on Wednesday. Cowen reaffirmed a "buy" rating on shares of General Motors in a report on Tuesday. Finally, CLSA raised shares of General Motors to a "moderate buy" rating in a report on Monday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $70.00.

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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