Rafferty Asset Management LLC Lowers Stock Holdings in General Motors Company $GM

Key Points

• Rafferty Asset Management LLC reduced its stake in General Motors by 29.4%, selling 30,061 shares and leaving it with 72,167 shares valued at approximately $3.39 million.
• CEO Mary T. Barra sold 907,024 shares of General Motors, resulting in a 62.16% decline in her ownership, while total insider sales in the last 90 days reached 1,070,311 shares.
• General Motors reported a quarterly earnings per share of $2.53, exceeding analyst expectations, but experienced a year-over-year revenue decline of 1.8%.

Rafferty Asset Management LLC reduced its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 29.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,167 shares of the auto manufacturer's stock after selling 30,061 shares during the quarter. Rafferty Asset Management LLC's holdings in General Motors were worth $3,394,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of General Motors by 456.1% during the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock valued at $2,062,000 after buying an additional 31,755 shares in the last quarter. Rehmann Capital Advisory Group purchased a new stake in shares of General Motors during the 4th quarter valued at $218,000. South Plains Financial Inc. purchased a new stake in shares of General Motors during the 4th quarter valued at $232,000. 4WEALTH Advisors Inc. purchased a new stake in shares of General Motors during the 4th quarter valued at $346,000. Finally, Albar Capital Partners LLP purchased a new stake in shares of General Motors during the 4th quarter valued at $30,967,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction of $2,027,900.40. Following the completion of the transaction, the chief accounting officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 23,977 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction 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. The trade was a 73.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,070,311 shares of company stock valued at $62,095,433 over the last three months. Insiders own 0.54% of the company's stock.

General Motors Stock Up 0.3%

NYSE:GM traded up $0.15 during mid-day trading on Monday, hitting $58.64. 4,971,207 shares of the company's stock were exchanged, compared to its average volume of 6,509,005. General Motors Company has a one year low of $41.60 and a one year 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. The business has a fifty day moving average price of $53.73 and a 200 day moving average price of $49.68. The company has a market cap of $55.83 billion, a PE ratio of 9.31, a P/E/G ratio of 1.24 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.01. The firm had revenue of $47.12 billion for 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 business's revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Equities analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, September 5th. General Motors's dividend payout ratio is currently 9.52%.

Analyst Upgrades and Downgrades

GM has been the subject of several analyst reports. Wedbush upped their price target 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. Bank of America decreased their price objective on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a report on Wednesday, July 23rd. Citigroup boosted their price objective on shares of General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, CLSA upgraded shares of General Motors to a "moderate buy" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $58.05.

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.