MetLife Investment Management LLC Trims Position in General Motors Company $GM

Key Points

• MetLife Investment Management LLC reduced its stake in General Motors by 11.2%, owning 258,335 shares valued at approximately $12.15 million after selling 32,600 shares.
• Multiple institutional investors, including Vanguard Group and Dimensional Fund Advisors, increased their holdings in General Motors during the 1st quarter, highlighting strong interest from hedge funds.
• General Motors reported a quarterly earnings per share of $2.53, slightly surpassing analysts' expectations, with total revenue of $47.12 billion.

MetLife Investment Management LLC lowered its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 11.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 258,335 shares of the auto manufacturer's stock after selling 32,600 shares during the quarter. MetLife Investment Management LLC's holdings in General Motors were worth $12,149,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in General Motors by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock valued at $4,672,023,000 after purchasing an additional 6,395,375 shares during the period. Dimensional Fund Advisors LP grew its position in General Motors by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer's stock valued at $676,322,000 after purchasing an additional 316,196 shares during the period. Invesco Ltd. grew its position in General Motors by 4.5% in the 1st quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock valued at $646,482,000 after purchasing an additional 594,217 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in General Motors by 17.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer's stock valued at $603,048,000 after purchasing an additional 1,910,186 shares during the period. Finally, Northern Trust Corp grew its position in General Motors by 8.1% in the 4th quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock valued at $582,251,000 after purchasing an additional 822,454 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Stock Performance

Shares of NYSE GM traded up $0.15 during mid-day trading on Friday, reaching $58.64. 4,971,207 shares of the company's stock were exchanged, compared to its average volume of 6,737,402. The firm has a market capitalization of $55.83 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 1.23 and a beta of 1.36. General Motors Company has a 52 week low of $41.60 and a 52 week high of $61.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The firm has a 50-day moving average price of $53.53 and a two-hundred day moving average price of $49.58.

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 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The company had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. During the same quarter last year, the firm posted $3.06 EPS. The firm'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. Analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors 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 yield of 1.0%. General Motors's dividend payout ratio (DPR) is 9.52%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GM. Royal Bank Of Canada reissued an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. The Goldman Sachs Group restated a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Benchmark started coverage on General Motors in a research note on Monday, July 21st. They set a "buy" rating and a $65.00 price objective on the stock. Barclays raised their price objective on General Motors from $45.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Citigroup raised their price objective on General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $58.05.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the completion of the sale, the executive vice president 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mary T. Barra sold 87,839 shares of General Motors stock in a transaction dated Friday, August 29th. The stock was 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. In the last 90 days, insiders sold 1,070,311 shares of company stock valued at $62,095,433. 0.54% of the stock is owned by insiders.

General Motors 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.