General Motors Company $GM Shares Purchased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. significantly increased its holdings in General Motors, acquiring an additional 1,541,581 shares to boost its position by 97.0% during the 1st quarter, totaling approximately $147 million.
• General Motors reported better-than-expected quarterly earnings with $2.53 EPS, surpassing analysts' estimates, and generated revenue of $47.12 billion, which is a slight decline compared to the previous year.
• The company declared a quarterly dividend of $0.15 per share, reflecting an annual yield of 1.0%, with a payout ratio currently at 9.52%.

Price T Rowe Associates Inc. MD raised its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 97.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,131,433 shares of the auto manufacturer's stock after purchasing an additional 1,541,581 shares during the period. Price T Rowe Associates Inc. MD owned 0.33% of General Motors worth $147,272,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Candriam S.C.A. grew its stake in shares of General Motors by 21.0% during the 1st quarter. Candriam S.C.A. now owns 114,372 shares of the auto manufacturer's stock valued at $5,379,000 after acquiring an additional 19,875 shares during the period. Dorsey & Whitney Trust CO LLC boosted its position in shares of General Motors by 3.6% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 7,572 shares of the auto manufacturer's stock worth $356,000 after purchasing an additional 264 shares during the period. Aspire Growth Partners LLC boosted its position in shares of General Motors by 20.7% in the first quarter. Aspire Growth Partners LLC now owns 11,505 shares of the auto manufacturer's stock worth $523,000 after purchasing an additional 1,974 shares during the period. Venture Visionary Partners LLC increased its stake in shares of General Motors by 52.8% in the first quarter. Venture Visionary Partners LLC now owns 33,067 shares of the auto manufacturer's stock worth $1,555,000 after purchasing an additional 11,427 shares in the last quarter. Finally, Credit Agricole S A raised its position in shares of General Motors by 0.7% during the 1st quarter. Credit Agricole S A now owns 295,939 shares of the auto manufacturer's stock valued at $13,918,000 after purchasing an additional 2,080 shares during the period. Institutional investors own 92.67% of the company's stock.

Insider Transactions at General Motors

In related news, CAO Christopher Hatto sold 36,804 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 owned 12,007 shares of the company's stock, valued at $661,585.70. The trade was a 75.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rory Harvey sold 23,977 shares of the 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 sale, the executive vice president directly owned 8,513 shares in the company, valued at $451,274.13. This trade represents a 73.80% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GM. Bank of America cut their target price on General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Wells Fargo & Company boosted their target price on General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 23rd. UBS Group increased their price target on General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Wedbush boosted their price target on shares of General Motors from $55.00 to $65.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Finally, Mizuho boosted their target price on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, General Motors has an average rating of "Hold" and a consensus price target of $58.05.

General Motors Trading Down 0.2%

Shares of NYSE:GM traded down $0.13 during trading on Friday, reaching $58.37. 1,978,274 shares of the company were exchanged, compared to its average volume of 11,570,627. The firm has a market capitalization of $55.57 billion, a PE ratio of 9.27, a P/E/G ratio of 1.24 and a beta of 1.36. The business's fifty day simple moving average is $53.32 and its 200-day simple moving average is $49.50. General Motors Company has a 12-month low of $41.60 and a 12-month high of $61.24. 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 (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (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 firm had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. During the same quarter in the previous year, the business earned $3.06 earnings per share. General Motors's quarterly revenue was down 1.8% on a year-over-year basis. 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 year.

General Motors Announces Dividend

The firm 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. This represents a $0.60 annualized dividend and a yield of 1.0%. The ex-dividend date 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.