Nordea Investment Management AB Sells 8,287 Shares of General Motors Company $GM

Key Points

• Nordea Investment Management AB has reduced its stake in General Motors by 14.5%, selling 8,287 shares and now holding 49,048 shares worth approximately $2.4 million.
• General Motors reported $2.80 earnings per share for the quarter, exceeding expectations, while their revenue of $48.59 billion also surpassed analyst estimates.
• The company announced a quarterly dividend of $0.15 per share, with a yield of 0.9%, reflecting a payout ratio of 12.07%.

Nordea Investment Management AB lowered its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 14.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,048 shares of the auto manufacturer's stock after selling 8,287 shares during the period. Nordea Investment Management AB's holdings in General Motors were worth $2,415,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH purchased a new position in shares of General Motors during the second quarter valued at about $25,000. GFG Capital LLC bought a new stake in General Motors during the 2nd quarter valued at approximately $27,000. Costello Asset Management INC bought a new position in shares of General Motors in the 1st quarter worth approximately $32,000. RMG Wealth Management LLC purchased a new position in shares of General Motors in the 2nd quarter valued at approximately $32,000. Finally, WPG Advisers LLC bought a new stake in shares of General Motors during the first quarter valued at approximately $34,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Price Performance

NYSE GM opened at $67.19 on Thursday. The stock has a market capitalization of $63.97 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.67 and a beta of 1.33. General Motors Company has a 1-year low of $41.60 and a 1-year high of $67.59. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The business's fifty day moving average price is $58.61 and its 200-day moving average price is $52.45.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.36%. The company had revenue of $48.59 billion during the quarter, compared to analyst estimates of $44.60 billion. During the same period in the previous year, the business posted $2.96 earnings per share. The firm's quarterly revenue was down .3% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. On average, equities analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, December 5th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. General Motors's payout ratio is currently 12.07%.

Wall Street Analyst Weigh In

GM has been the subject of a number of research reports. Benchmark reiterated a "buy" rating on shares of General Motors in a report on Wednesday. TD Cowen increased their price target on shares of General Motors from $92.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday. Industrial Alliance Securities set a $70.00 price objective on shares of General Motors in a research note on Friday, July 11th. Barclays raised their target price on shares of General Motors from $77.00 to $85.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Bank of America dropped their price target on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, General Motors currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.95.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 136,161 shares of the company's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $60.12, for a total transaction of $8,185,999.32. Following the sale, the president directly owned 131,036 shares of the company's stock, valued at $7,877,884.32. This represents a 50.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mary T. Barra sold 907,024 shares of the business's stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,074,824 shares of company stock valued at $122,377,213. 0.54% of the stock is owned by company insiders.

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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