MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stake in General Motors Company $GM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in General Motors by 147.9%, owning 716,908 shares worth approximately $33.7 million after acquiring 427,679 shares in the first quarter.
• General Motors reported earnings per share of $2.53 for the last quarter, exceeding analysts' expectations, despite a 1.8% decline in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.15 per share, resulting in a 1.0% yield and a payout ratio of 9.52%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 147.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 716,908 shares of the auto manufacturer's stock after acquiring an additional 427,679 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.07% of General Motors worth $33,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of GM. AQR Capital Management LLC grew its position in shares of General Motors by 146.8% during the 1st quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock worth $629,196,000 after buying an additional 8,012,743 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of General Motors by 6.9% during the 1st 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 during the last quarter. Nuveen LLC purchased a new stake in shares of General Motors during the 1st quarter worth $175,889,000. Assenagon Asset Management S.A. lifted its stake in shares of General Motors by 305.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after purchasing an additional 2,154,037 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of General Motors by 17.5% during 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 purchasing an additional 1,910,186 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

General Motors Stock Up 2.2%

General Motors stock traded up $1.26 during midday trading on Thursday, reaching $58.60. The company's stock had a trading volume of 3,268,174 shares, compared to its average volume of 11,325,212. The stock's 50-day simple moving average is $54.86 and its 200-day simple moving average is $50.15. 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. The stock has a market capitalization of $55.79 billion, a P/E ratio of 9.29, a PEG ratio of 1.22 and a beta of 1.32.

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. 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 during the quarter, compared to analysts' expectations of $45.87 billion. During the same period last year, the business posted $3.06 earnings per share. The firm's 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. On average, sell-side analysts expect that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GM shares. Mizuho upped their price objective on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Citigroup upped their price objective on General Motors from $59.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. UBS Group upped their price objective on General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Bank of America decreased their price objective 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. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of General Motors in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $58.05.

Insider Transactions at General Motors

In other news, CAO Christopher Hatto sold 36,804 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief accounting officer directly owned 12,007 shares in the company, valued at $661,585.70. This trade represents a 75.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mary T. Barra sold 907,024 shares of General Motors stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $58.24, for a total value of $52,825,077.76. Following the transaction, the chief executive officer owned 552,238 shares of the company's stock, valued at approximately $32,162,341.12. This represents a 62.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,070,311 shares of company stock worth $62,095,433 over the last three months. 0.54% of the stock is currently owned by insiders.

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.