Kovitz Investment Group Partners LLC Raises Stock Holdings in General Motors Company $GM

Key Points

• Kovitz Investment Group Partners LLC significantly increased its stake in General Motors by 369.9% in the first quarter, now owning 461,558 shares valued at approximately $21.7 million.
• General Motors reported better-than-expected earnings with $2.53 EPS for the last quarter, surpassing estimates of $2.52, although revenue declined by 1.8% year-over-year.
• The company announced a quarterly dividend of $0.15 per share, reflecting a 1.1% yield and a 9.52% payout ratio.

Kovitz Investment Group Partners LLC grew its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 369.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 461,558 shares of the auto manufacturer's stock after acquiring an additional 363,340 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in General Motors were worth $21,707,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GM. Susquehanna Fundamental Investments LLC acquired a new position in shares of General Motors during the 4th quarter worth $25,404,000. Cassia Capital Partners LLC raised its holdings in General Motors by 63.0% in the 1st quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock valued at $879,000 after buying an additional 7,221 shares during the last quarter. AustralianSuper Pty Ltd raised its holdings in General Motors by 38.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after purchasing an additional 1,712,033 shares during the last quarter. Sowell Financial Services LLC bought a new position in General Motors during the 1st quarter worth approximately $312,000. Finally, Malaga Cove Capital LLC acquired a new stake in shares of General Motors during the 1st quarter worth approximately $292,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 directly owned 12,007 shares of the company's stock, valued at approximately $661,585.70. The trade was a 75.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 23,977 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the transaction, the executive vice president directly owned 8,513 shares in the company, valued at $451,274.13. This represents a 73.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

General Motors Price Performance

NYSE:GM traded up $0.83 during trading hours on Tuesday, reaching $57.06. The stock had a trading volume of 3,961,899 shares, compared to its average volume of 11,816,106. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. General Motors Company has a 52 week low of $41.60 and a 52 week high of $61.24. The company has a 50 day moving average price of $51.87 and a two-hundred day moving average price of $48.95. The stock has a market capitalization of $54.33 billion, a PE ratio of 9.06, a PEG ratio of 1.19 and a beta of 1.36.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. The business had revenue of $47.12 billion for 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 quarter in the previous year, the company posted $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, sell-side analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. CLSA raised General Motors to a "moderate buy" rating in a report on Monday, July 7th. Sanford C. Bernstein set a $36.00 target price on General Motors in a research note on Monday, May 5th. Citigroup boosted their price objective on General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $48.00 price target (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, General Motors has a consensus rating of "Hold" and an average price target of $58.05.

General Motors 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.