Range Financial Group LLC Decreases Position in General Motors Company $GM

Key Points

• Range Financial Group LLC has drastically reduced its stake in General Motors by 80.5%, leaving it with 6,252 shares valued at $308,000.
• CEO Mary T. Barra sold 907,024 shares in August, representing a 62.16% decrease in her ownership, while the company recently declared a quarterly dividend of $0.15.
• General Motors reported revenues of $47.12 billion for its last quarter, beating estimates, though its earnings per share saw a decline compared to the previous year.

Range Financial Group LLC trimmed its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 80.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,252 shares of the auto manufacturer's stock after selling 25,831 shares during the quarter. Range Financial Group LLC's holdings in General Motors were worth $308,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. OMNI 360 Wealth Inc. grew its stake in General Motors by 10.1% during the second quarter. OMNI 360 Wealth Inc. now owns 8,503 shares of the auto manufacturer's stock worth $418,000 after buying an additional 779 shares during the period. First Financial Bank Trust Division lifted its position in shares of General Motors by 2.2% in the 2nd quarter. First Financial Bank Trust Division now owns 93,979 shares of the auto manufacturer's stock worth $4,625,000 after buying an additional 2,003 shares during the last quarter. Kera Capital Partners Inc. bought a new position in shares of General Motors in the 2nd quarter worth about $363,000. AG2R LA Mondiale Gestion D Actifs bought a new position in shares of General Motors in the 1st quarter worth about $2,233,000. Finally, Voya Investment Management LLC increased its holdings in shares of General Motors by 2.3% in the 1st quarter. Voya Investment Management LLC now owns 519,808 shares of the auto manufacturer's stock worth $24,447,000 after acquiring an additional 11,664 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 907,024 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $58.24, for a total transaction of $52,825,077.76. Following the completion of the transaction, the chief executive officer owned 552,238 shares of the company's stock, valued at $32,162,341.12. This trade represents a 62.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher Hatto sold 36,804 shares of the business's stock in a transaction 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 completion of the transaction, the chief accounting officer owned 12,007 shares of the company's stock, valued at $661,585.70. This represents a 75.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,104,256 shares of company stock valued at $64,129,551 in the last 90 days. Corporate insiders own 0.54% of the company's stock.

General Motors Price Performance

NYSE GM traded down $0.32 during trading on Friday, reaching $58.94. The company's stock had a trading volume of 13,158,591 shares, compared to its average volume of 6,247,494. The stock has a market capitalization of $56.12 billion, a PE ratio of 9.36, a P/E/G ratio of 1.24 and a beta of 1.32. 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 fifty day moving average of $55.71 and a 200 day moving average of $50.72. General Motors Company has a one year low of $41.60 and a one year high of $61.24.

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 (EPS) 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 business had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same period last year, the company earned $3.06 EPS. General Motors's revenue for the quarter was down 1.8% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

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

Wall Street Analyst Weigh In

GM has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research note on Wednesday, July 23rd. Industrial Alliance Securities set a $70.00 target price on shares of General Motors in a research note on Friday, July 11th. Barclays raised shares of General Motors from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $55.00 to $73.00 in a research report on Friday, September 12th. Bank of America decreased their price target on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of General Motors in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, General Motors currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.00.

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.