Intech Investment Management LLC Sells 657,452 Shares of General Motors Company $GM

Key Points

• Intech Investment Management LLC has reduced its stake in General Motors Company by 66.8%, selling 657,452 shares and holding 326,974 shares valued at approximately $15.4 million.
• Institutional investors and hedge funds now own 92.67% of General Motors, with several firms acquiring new positions in the company recently.
• General Motors declared a quarterly dividend of $0.15, which will contribute to an annualized yield of 1.0% for shareholders.

Intech Investment Management LLC lessened its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 66.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 326,974 shares of the auto manufacturer's stock after selling 657,452 shares during the quarter. Intech Investment Management LLC's holdings in General Motors were worth $15,378,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Measured Risk Portfolios Inc. acquired a new position in shares of General Motors during the 4th quarter worth approximately $27,000. Costello Asset Management INC acquired a new stake in shares of General Motors in the first quarter valued at approximately $32,000. WPG Advisers LLC bought a new stake in shares of General Motors in the first quarter valued at approximately $34,000. North Capital Inc. acquired a new stake in General Motors during the first quarter worth approximately $40,000. Finally, Banque Transatlantique SA bought a new position in General Motors during the 1st quarter worth $40,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Rory Harvey sold 23,977 shares of the firm's stock in a transaction 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 owned 8,513 shares of the company's stock, valued at approximately $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 907,024 shares of General Motors 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 owned 552,238 shares in the company, valued at approximately $32,162,341.12. This trade represents a 62.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,070,311 shares of company stock valued at $62,095,433. Insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GM. Mizuho boosted their price target on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. raised their target price on shares of General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Benchmark began coverage on shares of General Motors in a research report on Monday, July 21st. They issued a "buy" rating and a $65.00 target price for the company. The Goldman Sachs Group reiterated a "buy" rating on shares of General Motors in a research report on Friday, July 11th. Finally, Barclays lifted their price objective on shares of General Motors from $45.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $58.05.

General Motors Price Performance

Shares of GM opened at $58.08 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. 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 12-month low of $41.60 and a 12-month high of $61.24. The business has a 50-day simple moving average of $54.76 and a two-hundred day simple moving average of $50.10.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The company had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. During the same period in the previous year, the business 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. Analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal 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 given 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 dividend payout ratio is 9.52%.

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.

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