General Motors Company $GM Shares Purchased by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC increased its stake in General Motors by 13.6% during Q1, now holding 450,422 shares valued at $21,183,000.
• General Motors reported earnings per share of $2.53 for the recent quarter, slightly exceeding analysts' expectations, and announced a quarterly dividend of $0.15 per share.
• Analysts have set varying price targets for GM shares, with JPMorgan raising theirs to $60.00, indicating a positive outlook for the company's stock performance.

Gotham Asset Management LLC grew its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 13.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 450,422 shares of the auto manufacturer's stock after acquiring an additional 53,931 shares during the period. Gotham Asset Management LLC's holdings in General Motors were worth $21,183,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Measured Risk Portfolios Inc. purchased a new stake in shares of General Motors in the fourth quarter valued at about $27,000. Costello Asset Management INC purchased a new stake in shares of General Motors in the first quarter valued at about $32,000. WPG Advisers LLC purchased a new stake in shares of General Motors in the first quarter valued at about $34,000. North Capital Inc. purchased a new stake in shares of General Motors in the first quarter valued at about $40,000. Finally, Banque Transatlantique SA purchased a new stake in shares of General Motors in the first quarter valued at about $40,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Price Performance

Shares of NYSE GM traded down $0.12 on Tuesday, hitting $58.08. The company's stock had a trading volume of 4,543,013 shares, compared to its average volume of 11,396,931. General Motors Company has a 12-month low of $41.60 and a 12-month high of $61.24. The company has a market capitalization of $55.30 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 1.23 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 stock has a 50 day moving average of $54.64 and a 200-day moving average of $50.04.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating 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 company had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. During the same quarter in the prior year, the firm earned $3.06 earnings per share. The company'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. As a group, research analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently commented on GM. Citigroup boosted their price objective on shares of General Motors from $59.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating on shares of General Motors in a report on Thursday, July 24th. UBS Group boosted their price objective on shares of General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Industrial Alliance Securities set a $70.00 price objective on shares of General Motors in a report on Friday, July 11th. Finally, Bank of America decreased their price objective on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $58.05.

Insider Activity

In other news, CAO Christopher Hatto sold 36,804 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer owned 12,007 shares of the company's stock, valued at $661,585.70. The trade was a 75.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rory Harvey sold 23,977 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 8,513 shares of the company's stock, valued at approximately $451,274.13. This represents a 73.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,070,311 shares of company stock valued at $62,095,433 over the last 90 days. Insiders own 0.54% of the company's stock.

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.