Great Lakes Advisors LLC Reduces Stock Position in General Motors Company $GM

Key Points

• Great Lakes Advisors LLC has reduced its stake in General Motors by 4.8%, selling 78,129 shares and holding approximately 1,558,280 shares worth $73.17 million as of the end of the first quarter.
• Analysts' price targets for General Motors vary, with benchmarks set between $38.00 and $70.00, indicating differing outlooks on the stock's performance.
• The company has announced a quarterly dividend of $0.15 per share, reflecting a 1.0% dividend yield and a payout ratio of 9.52%.

Great Lakes Advisors LLC trimmed its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 4.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,558,280 shares of the auto manufacturer's stock after selling 78,129 shares during the period. Great Lakes Advisors LLC owned 0.16% of General Motors worth $73,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Cassia Capital Partners LLC lifted its holdings in General Motors by 63.0% during the 1st quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock worth $879,000 after buying an additional 7,221 shares during the last quarter. Mirova lifted its holdings in shares of General Motors by 4.1% in the 1st quarter. Mirova now owns 133,969 shares of the auto manufacturer's stock valued at $6,301,000 after purchasing an additional 5,293 shares during the last quarter. AustralianSuper Pty Ltd lifted its holdings in shares of General Motors by 38.9% in the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock valued at $287,428,000 after purchasing an additional 1,712,033 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of General Motors in the 1st quarter valued at $312,000. Finally, Boston Partners acquired a new stake in General Motors during the 1st quarter worth $719,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Performance

Shares of GM stock traded up $1.32 during trading hours on Thursday, reaching $58.66. 5,807,111 shares of the company's stock were exchanged, compared to its average volume of 11,340,851. The company has a market cap of $55.85 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 1.22 and a beta of 1.32. The company's 50 day moving average is $54.86 and its two-hundred day moving average is $50.15. General Motors Company has a 1 year low of $41.60 and a 1 year high of $61.24. 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 issued its earnings results 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 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 for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Equities research analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company 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 $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 at General Motors

In other General Motors news, CAO Christopher Hatto sold 14,667 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $59.00, for a total value of $865,353.00. Following the sale, the chief accounting officer owned 12,007 shares of the company's stock, valued at approximately $708,413. This represents a 54.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 87,839 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $58.13, for a total transaction of $5,106,081.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,070,311 shares of company stock valued at $62,095,433. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

GM has been the topic of a number of research reports. UBS Group raised their price target on General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Wells Fargo & Company lifted their target price on General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research note on Wednesday, July 23rd. Benchmark assumed coverage on General Motors in a research note on Monday, July 21st. They issued a "buy" rating and a $65.00 target price on the stock. Industrial Alliance Securities set a $70.00 target price on General Motors in a research note on Friday, July 11th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $48.00 target price (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average 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.