General Motors Company $GM Shares Sold by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC reduced its stake in General Motors by 4.8%, owning 110,243 shares worth approximately $5.4 million after selling 5,543 shares in the second quarter.
• General Motors recently announced a quarterly dividend of $0.15 per share, with the payment scheduled for December 18th, representing an annualized yield of 0.9%.
• Wall Street analysts have boosted their price targets for GM, with Citigroup setting a new target of $75 and UBS raising theirs to $81, indicating strong market confidence in the company's growth.

Mutual of America Capital Management LLC trimmed its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,243 shares of the auto manufacturer's stock after selling 5,543 shares during the quarter. Mutual of America Capital Management LLC's holdings in General Motors were worth $5,425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of General Motors by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock worth $4,672,023,000 after acquiring an additional 6,395,375 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of General Motors by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer's stock worth $676,322,000 after acquiring an additional 316,196 shares in the last quarter. Invesco Ltd. boosted its position in shares of General Motors by 4.5% during the 1st quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock worth $646,482,000 after acquiring an additional 594,217 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of General Motors by 146.8% during the 1st quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock worth $629,196,000 after acquiring an additional 8,012,743 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of General Motors by 17.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer's stock worth $603,048,000 after acquiring an additional 1,910,186 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GM. Citigroup upped their price objective on General Motors from $61.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. UBS Group raised General Motors from a "neutral" rating to a "buy" rating and upped their target price for the company from $56.00 to $81.00 in a research report on Wednesday, September 24th. CLSA raised General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Cowen reaffirmed a "buy" rating on shares of General Motors in a research report on Tuesday. Finally, Wells Fargo & Company lifted 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, October 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $66.40.

General Motors Stock Up 14.8%

GM opened at $66.59 on Wednesday. The business has a 50 day moving average price of $58.38 and a two-hundred day moving average price of $52.34. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The company has a market cap of $63.40 billion, a PE ratio of 10.57, a P/E/G ratio of 1.71 and a beta of 1.33. General Motors Company has a 52 week low of $41.60 and a 52 week high of $67.55.

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 EPS for the quarter, beating the consensus estimate of $2.32 by $0.48. The firm had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $44.60 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The firm's revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.96 EPS. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. As a group, research analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. General Motors's dividend payout ratio is 9.52%.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 23,977 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the transaction, the executive vice president directly owned 8,513 shares of the company's stock, valued at approximately $451,274.13. This represents a 73.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Christopher Hatto sold 36,804 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total value of $2,027,900.40. Following the transaction, the chief accounting officer directly owned 12,007 shares of the company's stock, valued at approximately $661,585.70. This trade represents a 75.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,074,824 shares of company stock valued at $122,377,213. Corporate insiders own 0.54% of the company's stock.

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.