Korea Investment CORP Boosts Stock Position in General Motors Company $GM

Key Points

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Korea Investment CORP grew its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,167,612 shares of the auto manufacturer's stock after purchasing an additional 19,554 shares during the period. Korea Investment CORP owned about 0.12% of General Motors worth $54,913,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new stake in General Motors during the fourth quarter worth about $25,404,000. Cassia Capital Partners LLC lifted its stake 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 purchasing an additional 7,221 shares during the last quarter. AustralianSuper Pty Ltd lifted its stake 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 worth $287,428,000 after purchasing an additional 1,712,033 shares during the last quarter. Sowell Financial Services LLC bought a new stake in General Motors during the first quarter worth about $312,000. Finally, Malaga Cove Capital LLC bought a new stake in General Motors during the first quarter worth about $292,000. Institutional investors own 92.67% of the company's stock.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christopher Hatto sold 36,804 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total value of $2,027,900.40. Following the transaction, the chief accounting officer owned 12,007 shares in the company, valued at $661,585.70. This trade represents a 75.40% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

General Motors Trading Up 3.2%

GM traded up $1.7930 during midday trading on Friday, reaching $58.3030. 6,313,781 shares of the company's stock traded hands, compared to its average volume of 7,222,763. The firm has a fifty day moving average of $52.51 and a two-hundred day moving average of $49.19. The stock has a market capitalization of $55.51 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 1.20 and a beta of 1.36. 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 Company has a 52 week low of $41.60 and a 52 week high of $61.24.

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 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. The business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.General Motors's quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, equities analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

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 dividend of $0.15 per share. The ex-dividend date is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. General Motors's dividend payout ratio is 9.52%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GM. Wedbush lifted their price target on General Motors from $55.00 to $65.00 and gave the stock an "outperform" rating in a research note on Tuesday. Mizuho boosted their target price on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. UBS Group boosted their target price on General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Benchmark initiated coverage on General Motors in a research note on Monday, July 21st. They issued a "buy" rating and a $65.00 target price for the company. Finally, Bank of America lowered their target price on General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $58.05.

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.