Aberdeen Group plc Buys 961,379 Shares of General Motors Company $GM

Key Points

• Aberdeen Group plc increased its stake in General Motors by 112.6% during the first quarter, acquiring over 961,000 additional shares, bringing its total ownership to approximately 1.8 million shares valued at $85.2 million.
• Following the latest earnings report, General Motors surpassed analyst expectations with earnings per share of $2.53, slightly higher than the consensus estimate of $2.52, but revenue declined 1.8% year-over-year to $47.12 billion.
• The company announced a quarterly dividend of $0.15 per share, representing a 1.1% yield, which will be paid on September 18th to shareholders of record on September 5th.

Aberdeen Group plc lifted its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 112.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,814,808 shares of the auto manufacturer's stock after buying an additional 961,379 shares during the period. Aberdeen Group plc owned approximately 0.19% of General Motors worth $85,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Measured Risk Portfolios Inc. bought a new stake in General Motors during the fourth quarter worth $27,000. Transce3nd LLC acquired a new stake in General Motors during the 4th quarter worth about $34,000. Costello Asset Management INC acquired a new stake in General Motors during the 1st quarter worth about $32,000. Ossiam acquired a new stake in General Motors during the 4th quarter worth about $44,000. Finally, North Capital Inc. acquired a new stake in General Motors during the 1st quarter worth about $40,000. 92.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GM shares. Benchmark started coverage on shares of General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 price objective on the stock. Industrial Alliance Securities set a $70.00 target price on shares of General Motors in a research report on Friday, July 11th. Barclays raised their price target on shares of General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Finally, Wells Fargo & Company lifted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $58.05.

General Motors Trading Up 1.4%

General Motors stock traded up $0.7860 during mid-day trading on Tuesday, hitting $57.0160. The company's stock had a trading volume of 5,986,445 shares, compared to its average volume of 11,830,087. 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 stock has a market cap of $54.28 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 1.19 and a beta of 1.36. The business has a 50 day moving average price of $51.87 and a 200-day moving average price of $48.95. General Motors Company has a 12 month low of $41.60 and a 12 month 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 for the quarter, topping the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. During the same period in the previous year, the firm posted $3.06 earnings per share. 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. As a group, analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio is currently 9.52%.

Insiders Place Their Bets

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