Public Sector Pension Investment Board Has $5.73 Million Holdings in General Motors Company $GM

Key Points

• The Public Sector Pension Investment Board significantly reduced its stake in General Motors, selling 196,733 shares and decreasing its holdings by 61.8%, leaving them with 121,769 shares valued at approximately $5.73 million.
• General Motors reported earnings of $2.53 per share for the last quarter, slightly exceeding analysts' expectations, though revenue declined by 1.8% year-over-year.
• The company recently announced a quarterly dividend of $0.15 per share, which will be paid to shareholders, reflecting a 1.1% dividend yield.

Public Sector Pension Investment Board cut its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 61.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 121,769 shares of the auto manufacturer's stock after selling 196,733 shares during the period. Public Sector Pension Investment Board's holdings in General Motors were worth $5,727,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in GM. Vanguard Group Inc. boosted its position in 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 period. Dimensional Fund Advisors LP boosted its position in General Motors by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock worth $749,382,000 after purchasing an additional 228,408 shares during the period. Invesco Ltd. boosted its position in General Motors by 4.5% during the 1st quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock worth $646,482,000 after purchasing an additional 594,217 shares during the period. Northern Trust Corp boosted its position in General Motors by 8.1% during the 4th quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock worth $582,251,000 after purchasing an additional 822,454 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in General Motors by 12.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,447,099 shares of the auto manufacturer's stock worth $444,297,000 after purchasing an additional 1,020,386 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GM has been the topic of a number of recent analyst reports. Mizuho boosted their price objective on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Citigroup boosted their price objective on shares of General Motors from $59.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. CLSA upgraded shares of General Motors to a "moderate buy" rating in a research note on Monday, July 7th. Finally, UBS Group upped their target price on shares of General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. One investment 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $58.05.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 23,977 shares of the firm's 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 transaction, the executive vice president directly owned 8,513 shares in the company, valued at approximately $451,274.13. This trade represents a 73.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Christopher Hatto sold 36,804 shares of the firm's 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 completion of the sale, the chief accounting officer owned 12,007 shares in the company, valued at $661,585.70. This represents a 75.40% 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.

General Motors Stock Up 1.4%

GM stock traded up $0.7860 during midday trading on Tuesday, reaching $57.0160. The company had a trading volume of 5,986,445 shares, compared to its average volume of 9,634,306. General Motors Company has a 1 year low of $41.60 and a 1 year high of $61.24. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $54.28 billion, a P/E ratio of 9.05, a PEG ratio of 1.19 and a beta of 1.36. The company has a 50 day moving average of $52.03 and a two-hundred day moving average of $49.01.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its 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 company had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company's revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, equities research analysts expect that General Motors Company will post 11.44 earnings per share for the current fiscal 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 issued a dividend of $0.15 per share. The ex-dividend date is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. General Motors's dividend payout ratio (DPR) is currently 9.52%.

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.