GK Wealth Management LLC Cuts Stock Holdings in General Motors Company $GM

Key Points

• GK Wealth Management LLC cut its stake in General Motors by 43.0% during the 2nd quarter, reducing its holdings to 8,377 shares valued at approximately $412,000.
• Despite the reduction by GK Wealth, other institutional investors like Vanguard Group Inc. and AQR Capital Management LLC have increased their stakes, with Vanguard boosting its ownership by 6.9% during the first quarter.
• General Motors reported earnings of $2.53 per share in its last quarterly report, surpassing analyst estimates and projecting annual earnings growth of 11.44 EPS for the current year.

GK Wealth Management LLC lowered its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 43.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,377 shares of the auto manufacturer's stock after selling 6,314 shares during the quarter. GK Wealth Management LLC's holdings in General Motors were worth $412,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GM. Vanguard Group Inc. boosted its stake in General Motors by 6.9% during the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock valued at $4,672,023,000 after buying an additional 6,395,375 shares during the last quarter. Dimensional Fund Advisors LP increased its position in General Motors by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer's stock worth $676,322,000 after purchasing an additional 316,196 shares during the last quarter. Invesco Ltd. raised its stake in General Motors by 4.5% during the first quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock valued at $646,482,000 after purchasing an additional 594,217 shares in the last quarter. AQR Capital Management LLC lifted its position in General Motors by 146.8% during the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock valued at $629,196,000 after purchasing an additional 8,012,743 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of General Motors by 17.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer's stock worth $603,048,000 after buying an additional 1,910,186 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Trading Down 0.3%

NYSE GM opened at $58.51 on Monday. The stock has a market cap of $55.71 billion, a PE ratio of 9.29, a PEG ratio of 1.23 and a beta of 1.32. General Motors Company has a 12 month low of $41.60 and a 12 month high of $61.24. The company's 50-day moving average price is $55.09 and its 200-day moving average price is $50.35. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. The company had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Equities research analysts forecast that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

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

Insider Buying and Selling

In other General Motors news, CEO Mary T. Barra sold 907,024 shares of the firm's stock in a transaction 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 transaction, the chief executive officer directly owned 552,238 shares in the company, valued at $32,162,341.12. This trade represents a 62.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Rory Harvey sold 23,977 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president owned 8,513 shares of the company's stock, 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 have sold a total of 1,070,311 shares of company stock valued at $62,095,433 over the last quarter. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GM. Wedbush upped their price objective on General Motors from $55.00 to $65.00 and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Citigroup increased their price target on General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Bank of America cut their price objective on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $59.00.

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.

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