Northern Trust Corp Decreases Holdings in General Motors Company $GM

Key Points

• Northern Trust Corp has reduced its stake in General Motors by 1.9%, selling 206,906 shares, leaving it with approximately 10.72 million shares worth $504.3 million.
• The company recently reported earnings of $2.53 per share, slightly exceeding analyst expectations, with revenues of $47.12 billion, marking a 1.8% decrease compared to the previous year.
• General Motors announced a quarterly dividend of $0.15 per share, set to be paid on September 18th, reflecting an annualized yield of 1.1%.

Northern Trust Corp lessened its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,723,272 shares of the auto manufacturer's stock after selling 206,906 shares during the period. Northern Trust Corp owned approximately 1.12% of General Motors worth $504,315,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GM. Hohimer Wealth Management LLC grew its stake in shares of General Motors by 0.3% in the 1st quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock worth $3,310,000 after buying an additional 230 shares in the last quarter. HHM Wealth Advisors LLC grew its position in General Motors by 14.4% in the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer's stock worth $86,000 after acquiring an additional 232 shares in the last quarter. Aaron Wealth Advisors LLC increased its stake in General Motors by 3.6% during the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock worth $316,000 after acquiring an additional 235 shares during the last quarter. Burford Brothers Inc. raised its position in General Motors by 2.8% during the first quarter. Burford Brothers Inc. now owns 8,718 shares of the auto manufacturer's stock valued at $410,000 after purchasing an additional 241 shares during the period. Finally, Royal Capital Wealth Management LLC lifted its stake in shares of General Motors by 5.3% in the 4th quarter. Royal Capital Wealth Management LLC now owns 5,060 shares of the auto manufacturer's stock valued at $270,000 after purchasing an additional 255 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

Insider Buying and Selling

In other General Motors news, CAO Christopher Hatto sold 36,804 shares of the 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 sale, the chief accounting officer owned 12,007 shares of the company's stock, valued at approximately $661,585.70. This trade represents a 75.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 23,977 shares of General Motors 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 completion of the transaction, the executive vice president owned 8,513 shares in the company, valued at $451,274.13. This represents a 73.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GM shares. Wells Fargo & Company increased their price target on General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Piper Sandler restated a "neutral" rating and issued a $48.00 target price (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. UBS Group upped their price target on shares of General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, Benchmark initiated coverage on General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, General Motors has an average rating of "Hold" and an average target price of $58.05.

General Motors Trading Up 3.2%

GM traded up $1.7930 during trading on Friday, hitting $58.3030. 6,313,781 shares of the stock were exchanged, compared to its average volume of 7,222,763. 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 50 day simple moving average of $52.51 and a 200 day simple moving average of $49.20. The firm has a market cap of $55.51 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 1.23 and a beta of 1.36. 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 posted its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. The business had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The business's revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, equities analysts expect that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be given a $0.15 dividend. 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 is presently 9.52%.

About General Motors

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.