General Motors Company $GM Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in General Motors by 76.4%, selling 81,900 shares in the 1st quarter, leaving them with 25,300 shares valued at $1.19 million.
• Multiple hedge funds have modified their holdings, with SouthState Corp increasing its position by 914.4% during the same quarter.
• General Motors reported a quarterly EPS of $2.53, exceeding estimates, while revenue decreased by 1.8% compared to the previous year.

Gabelli Funds LLC reduced its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 76.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,300 shares of the auto manufacturer's stock after selling 81,900 shares during the quarter. Gabelli Funds LLC's holdings in General Motors were worth $1,190,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GM. Measured Risk Portfolios Inc. acquired a new stake in shares of General Motors in the 4th quarter valued at approximately $27,000. Costello Asset Management INC acquired a new position in General Motors during the first quarter worth $32,000. North Capital Inc. acquired a new position in General Motors during the first quarter worth $40,000. SouthState Corp raised its holdings in General Motors by 914.4% during the first quarter. SouthState Corp now owns 984 shares of the auto manufacturer's stock worth $46,000 after purchasing an additional 887 shares during the last quarter. Finally, Princeton Global Asset Management LLC raised its holdings in General Motors by 141.0% during the first quarter. Princeton Global Asset Management LLC now owns 1,070 shares of the auto manufacturer's stock worth $50,000 after purchasing an additional 626 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on GM. Bank of America reduced their price objective on General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Industrial Alliance Securities set a $70.00 price objective on General Motors in a report on Friday, July 11th. Wells Fargo & Company lifted their price objective on General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, Mizuho lifted their price objective on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, General Motors presently has a consensus rating of "Hold" and a consensus target price of $58.05.

General Motors Stock Performance

General Motors stock opened at $58.64 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. The stock has a fifty day moving average of $53.53 and a two-hundred day moving average of $49.59. The company has a market capitalization of $55.83 billion, a price-to-earnings ratio of 9.31, a PEG 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.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share 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 the consensus estimate of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.General Motors's revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

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

Insider Activity

In other news, CAO Christopher Hatto sold 14,667 shares of General Motors stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $59.00, for a total value of $865,353.00. Following the completion of the sale, the chief accounting officer owned 12,007 shares of the company's stock, valued at $708,413. The trade was a 54.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mary T. Barra sold 87,839 shares of General Motors stock in a transaction on Friday, August 29th. The shares were sold at an average price of $58.13, for a total value of $5,106,081.07. The disclosure for this sale can be found here. Insiders sold a total of 1,070,311 shares of company stock valued at $62,095,433 over the last quarter. Company insiders own 0.54% of the company's stock.

General Motors Company Profile

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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