Ilmarinen Mutual Pension Insurance Co Purchases 73,000 Shares of General Motors Company $GM

Key Points

• Ilmarinen Mutual Pension Insurance Co increased its stake in General Motors by 73.0%, acquiring an additional 73,000 shares, bringing its total holdings to 173,000 shares valued at approximately $8.14 million.
• Several large hedge funds, including AQR Capital Management and Vanguard Group, also significantly increased their stakes in General Motors during the first quarter, indicating a strong interest from institutional investors.
• General Motors recently reported adjusted earnings of $2.53 per share, slightly surpassing analysts' expectations, with revenue of $47.12 billion, while projecting FY 2025 earnings guidance between 8.250 and 10.000 EPS.

Ilmarinen Mutual Pension Insurance Co increased its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 73.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,000 shares of the auto manufacturer's stock after purchasing an additional 73,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in General Motors were worth $8,136,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GM. AQR Capital Management LLC raised its position in General Motors by 146.8% in the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock worth $629,196,000 after purchasing an additional 8,012,743 shares in the last quarter. Vanguard Group Inc. raised its position in General Motors by 6.9% in the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock worth $4,672,023,000 after purchasing an additional 6,395,375 shares in the last quarter. Nuveen LLC acquired a new position in General Motors in the first quarter worth about $175,889,000. Assenagon Asset Management S.A. increased its holdings in shares of General Motors by 305.6% during the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after buying an additional 2,154,037 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings 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 acquiring an additional 1,910,186 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GM. Mizuho boosted their target price on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Bank of America decreased their price target on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. The Goldman Sachs Group reissued a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, General Motors presently has an average rating of "Hold" and an average price target of $58.05.

General Motors Price Performance

Shares of GM stock opened at $58.08 on Wednesday. The firm's 50 day moving average price is $54.76 and its two-hundred day moving average price is $50.10. The stock has a market cap of $55.30 billion, a PE ratio of 9.22, a PEG ratio of 1.23 and a beta of 1.32. General Motors Company has a 52-week low of $41.60 and a 52-week high of $61.24. 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 (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 for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $45.87 billion. During the same period last year, the firm posted $3.06 earnings per share. The business's quarterly revenue 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, analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

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

Insider Buying and Selling at General Motors

In other General Motors news, CAO Christopher Hatto sold 14,667 shares of General Motors stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $59.00, for a total value of $865,353.00. Following the sale, the chief accounting officer directly owned 12,007 shares in the company, valued at approximately $708,413. The trade was a 54.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary T. Barra sold 87,839 shares of General Motors stock in a transaction on Friday, August 29th. The shares were 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. In the last three months, insiders have sold 1,070,311 shares of company stock worth $62,095,433. Insiders own 0.54% of the company's stock.

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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