General Motors Company $GM Shares Sold by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. reduced its holdings in General Motors by 8.0% in the second quarter, now owning 335,500 shares valued at approximately $16.5 million.
• General Motors reported $2.53 earnings per share for the latest quarter, slightly beating expectations, with a revenue of $47.12 billion, down 1.8% year-over-year.
• The company declared a quarterly dividend of $0.15, representing an annualized dividend of $0.60 and a yield of 1.0% as part of its strategy to distribute profits to shareholders.

QRG Capital Management Inc. lessened its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 8.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 335,500 shares of the auto manufacturer's stock after selling 29,340 shares during the quarter. QRG Capital Management Inc.'s holdings in General Motors were worth $16,510,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GM. Costello Asset Management INC purchased a new stake in General Motors in the first quarter valued at $32,000. WPG Advisers LLC purchased a new stake in shares of General Motors in the first quarter worth about $34,000. North Capital Inc. purchased a new stake in shares of General Motors in the first quarter worth about $40,000. Banque Transatlantique SA acquired a new stake in General Motors during the first quarter worth about $40,000. Finally, SouthState Corp raised its position in General Motors by 914.4% during the first quarter. SouthState Corp now owns 984 shares of the auto manufacturer's stock valued at $46,000 after acquiring an additional 887 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Up 1.2%

Shares of GM opened at $60.07 on Friday. General Motors Company has a 52-week low of $41.60 and a 52-week high of $62.14. The stock has a market cap of $57.19 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33. The firm's fifty day moving average is $57.22 and its two-hundred day moving average is $51.55. 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 (NYSE:GM - Get Free Report) TSE: GMM.U last posted 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 firm had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm posted $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Research analysts forecast that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. CLSA raised shares of General Motors to a "moderate buy" rating in a research note on Monday, July 7th. UBS Group raised shares of General Motors from a "neutral" rating to a "buy" rating and increased their price target for the stock from $56.00 to $81.00 in a report on Wednesday, September 24th. JPMorgan Chase & Co. lifted their price objective on shares of General Motors from $60.00 to $80.00 and gave the company an "overweight" rating in a report on Tuesday, September 30th. Wells Fargo & Company increased their target price on shares of General Motors from $38.00 to $40.00 and gave the stock an "underweight" rating in a research note on Friday. Finally, Barclays upgraded General Motors from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $55.00 to $73.00 in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $63.26.

Insider Buying and Selling

In other news, CEO Mary T. Barra sold 753,720 shares of General Motors stock in a transaction on 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 transaction, the chief executive officer owned 433,527 shares in the company, valued at $25,989,943.65. The trade was a 63.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rory Harvey sold 6,600 shares of the business'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 transaction, the executive vice president directly owned 8,513 shares in the company, valued at approximately $527,380.35. The trade was a 43.67% 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. Company 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.

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