Patton Fund Management Inc. Acquires New Holdings in General Motors Company $GM

Key Points

• Patton Fund Management Inc. recently acquired 4,675 shares of General Motors Company, valued at approximately $230,000.
• Wall Street analysts have generally positive views, with several firms raising their price targets, including Wedbush increasing its target from $55.00 to $65.00.
• General Motors CEO Mary T. Barra and President Mark L. Reuss recently sold significant stock holdings, indicating a decrease in insider ownership.

Patton Fund Management Inc. bought a new stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,675 shares of the auto manufacturer's stock, valued at approximately $230,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Costello Asset Management INC bought a new position in General Motors in the 1st quarter worth approximately $32,000. WPG Advisers LLC bought a new stake in General Motors during the 1st quarter valued at $34,000. North Capital Inc. acquired a new position in General Motors during the 1st quarter worth $40,000. Banque Transatlantique SA bought a new position in shares of General Motors in the first quarter worth $40,000. Finally, SouthState Corp increased its holdings in shares of General Motors by 914.4% during the first quarter. SouthState Corp now owns 984 shares of the auto manufacturer's stock valued at $46,000 after purchasing an additional 887 shares during the period. Institutional investors own 92.67% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GM. Wedbush increased their target price on shares of General Motors from $55.00 to $65.00 and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Benchmark assumed coverage on shares of General Motors in a research note on Monday, July 21st. They issued a "buy" rating and a $65.00 price target for the company. Wells Fargo & Company raised their price objective on shares of General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their target price on General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, Barclays raised General Motors from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $55.00 to $73.00 in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $61.53.

General Motors Trading Up 1.1%

Shares of NYSE:GM opened at $61.24 on Monday. 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 stock has a market capitalization of $58.31 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 1.29 and a beta of 1.32. General Motors Company has a 1-year low of $41.60 and a 1-year high of $61.98. The company has a 50 day moving average price of $56.38 and a 200 day moving average price of $51.17.

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, beating the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, research analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, September 5th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, September 5th. General Motors's payout ratio is presently 9.52%.

Insider Activity

In other General Motors news, CEO Mary T. Barra sold 753,720 shares of the firm's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $59.95, for a total value of $45,185,514.00. Following the completion of the transaction, the chief executive officer directly owned 433,527 shares in the company, valued at $25,989,943.65. This trade represents a 63.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Mark L. Reuss sold 136,161 shares of General Motors 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 completion of the transaction, the president directly owned 131,036 shares in the company, valued at approximately $7,877,884.32. This trade represents a 50.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,044,824 shares of company stock valued at $120,540,709 over the last ninety days. Corporate insiders own 0.54% of the company's stock.

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.

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