Wellington Management Group LLP Cuts Position in General Motors Company $GM

Key Points

• Wellington Management Group LLP reduced its stake in General Motors Company by 2.1%, owning approximately 0.12% of the company after selling 24,999 shares during the 1st quarter.
• General Motors reported $2.53 EPS for the last quarter, exceeding analysts' estimates and achieving a revenue of $47.12 billion, despite a 1.8% year-over-year decline.
• The company declared a quarterly dividend of $0.15 per share, with stockholders receiving this payout on September 18th, representing a 1.0% dividend yield.

Wellington Management Group LLP reduced its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,170,962 shares of the auto manufacturer's stock after selling 24,999 shares during the quarter. Wellington Management Group LLP owned approximately 0.12% of General Motors worth $55,070,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. 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 acquiring an additional 6,395,375 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of General Motors by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer's stock worth $676,322,000 after buying an additional 316,196 shares in the last quarter. Invesco Ltd. grew its position in shares of General Motors by 4.5% during the first quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock worth $646,482,000 after buying an additional 594,217 shares in the last quarter. Northern Trust Corp grew its position in shares of General Motors by 8.1% during the fourth quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock worth $582,251,000 after buying an additional 822,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of General Motors by 12.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,447,099 shares of the auto manufacturer's stock worth $444,297,000 after buying an additional 1,020,386 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Motors

In other news, CAO Christopher Hatto sold 36,804 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the completion of the sale, the chief accounting officer owned 12,007 shares in the company, valued at $661,585.70. This represents a 75.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rory Harvey sold 23,977 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president owned 8,513 shares of the company's stock, valued at $451,274.13. This trade represents a 73.80% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

General Motors Stock Performance

Shares of GM stock traded down $0.33 during trading hours on Thursday, hitting $58.43. The stock had a trading volume of 4,181,181 shares, compared to its average volume of 11,614,240. The firm has a market capitalization of $55.63 billion, a PE ratio of 9.27, a PEG ratio of 1.24 and a beta of 1.36. General Motors Company has a twelve month low of $41.60 and a twelve month high of $61.24. The stock's 50 day moving average is $53.11 and its 200 day moving average is $49.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.01. The business 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%.The company's revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, research analysts forecast that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on GM shares. Industrial Alliance Securities set a $70.00 price objective on General Motors in a research report on Friday, July 11th. The Goldman Sachs Group reissued a "buy" rating on shares of General Motors in a research report on Friday, July 11th. Sanford C. Bernstein set a $36.00 price objective on General Motors in a research report on Monday, May 5th. CLSA raised General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Finally, JPMorgan Chase & Co. boosted their price objective on General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, General Motors presently has a consensus rating of "Hold" and an average target price of $58.05.

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.