General Motors Company $GM Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. significantly reduced its stake in General Motors by selling 5,478,062 shares, resulting in an 89.9% decrease in ownership during the first quarter.
• General Motors recently reported a quarterly EPS of $2.53, exceeding analysts' estimates and showing a year-over-year revenue decline of 1.8%.
• The company announced a quarterly dividend of $0.15 per share, which represents an annualized dividend of $0.60 and a yield of 1.0%.

Jacobs Levy Equity Management Inc. cut its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 89.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 618,107 shares of the auto manufacturer's stock after selling 5,478,062 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.06% of General Motors worth $29,070,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GM shares. Barclays increased their price target on General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. CLSA upgraded General Motors to a "moderate buy" rating in a report on Monday, July 7th. Piper Sandler reiterated a "neutral" rating and set a $48.00 price target (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Wells Fargo & Company increased their price target on General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price target on General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $58.05.

Insider Transactions at General Motors

In other news, CAO Christopher Hatto sold 14,667 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $59.00, for a total transaction 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 trade represents a 54.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 87,839 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $58.13, for a total value of $5,106,081.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,070,311 shares of company stock valued at $62,095,433. Corporate insiders own 0.54% of the company's stock.

General Motors Stock Down 1.2%

Shares of GM traded down $0.68 during midday trading on Wednesday, hitting $57.33. The company had a trading volume of 5,939,539 shares, compared to its average volume of 11,360,026. The company's 50-day simple moving average is $54.76 and its 200-day simple moving average is $50.10. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. The firm has a market capitalization of $54.58 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.23 and a beta of 1.32. General Motors Company has a 1 year low of $41.60 and a 1 year high of $61.24.

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 (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion during the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The business's quarterly revenue was down 1.8% compared to the same quarter last year. 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. As a group, sell-side analysts expect that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio (DPR) is 9.52%.

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.