Janney Montgomery Scott LLC Has $14.76 Million Stake in General Motors Company $GM

Key Points

• Janney Montgomery Scott LLC has decreased its stake in General Motors Company (NYSE:GM) by 25.5% during Q2, now owning 299,962 shares valued at approximately $14.76 million.
• Institutional investors and hedge funds control 92.67% of General Motors' shares, indicating strong institutional interest in the company.
• Analysts have raised their price targets for General Motors, with UBS Group upgrading their rating from "neutral" to "buy" and setting a target of $81.00.

Janney Montgomery Scott LLC lowered its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 25.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 299,962 shares of the auto manufacturer's stock after selling 102,899 shares during the period. Janney Montgomery Scott LLC's holdings in General Motors were worth $14,761,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Cassia Capital Partners LLC raised its holdings in General Motors by 63.0% during the first 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 grew its position in General Motors by 4.1% during the first quarter. Mirova now owns 133,969 shares of the auto manufacturer's stock valued at $6,301,000 after buying an additional 5,293 shares during the period. AustralianSuper Pty Ltd grew its position in General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock valued at $287,428,000 after buying an additional 1,712,033 shares during the period. Sowell Financial Services LLC bought a new position in General Motors during the first quarter valued at about $312,000. Finally, Boston Partners bought a new position in General Motors during the first quarter valued at about $719,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Insiders Place Their Bets

In other news, CAO Christopher Hatto sold 36,804 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the transaction, the chief accounting officer owned 12,007 shares in the company, valued at approximately $661,585.70. This trade represents a 75.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $1,271,020.77. Following the transaction, the executive vice president owned 8,513 shares in the company, valued at approximately $451,274.13. This represents a 73.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,074,824 shares of company stock worth $122,377,213. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GM. UBS Group raised shares of General Motors from a "neutral" rating to a "buy" rating and increased their price target for the stock from $56.00 to $81.00 in a report on Wednesday, September 24th. Barclays raised shares of General Motors from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $55.00 to $73.00 in a research note on Friday, September 12th. Benchmark began coverage on shares of General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 price target on the stock. CLSA upgraded shares of General Motors to a "moderate buy" rating in a report on Monday, July 7th. Finally, Wells Fargo & Company lifted their price target on shares of General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $63.16.

General Motors Trading Down 3.1%

Shares of NYSE:GM opened at $59.42 on Friday. The stock has a 50 day moving average of $57.08 and a 200 day moving average of $51.46. The company has a market cap of $56.57 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. General Motors Company has a 12-month low of $41.60 and a 12-month high of $62.14.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. The company had revenue of $47.12 billion for 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 firm's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, equities research analysts expect that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, September 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. General Motors's dividend payout ratio 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.

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