Raymond James Financial Inc. Has $89.93 Million Stock Position in General Motors Company $GM

Key Points

• Raymond James Financial Inc. reduced its stake in General Motors by 6.0%, selling 122,052 shares and retaining 1,912,233 shares, valued at approximately $89.9 million.
• General Motors reported $2.53 EPS for its latest quarter, exceeding expectations, but showed a 1.8% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.15, with a dividend yield of 1.1% and a payout ratio of 9.52%.

Raymond James Financial Inc. trimmed its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,912,233 shares of the auto manufacturer's stock after selling 122,052 shares during the quarter. Raymond James Financial Inc. owned approximately 0.20% of General Motors worth $89,932,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Measured Risk Portfolios Inc. bought a new position in General Motors during the fourth quarter valued at approximately $27,000. Costello Asset Management INC bought a new position in shares of General Motors in the first quarter valued at approximately $32,000. Transce3nd LLC bought a new position in General Motors during the fourth quarter worth $34,000. North Capital Inc. bought a new position in General Motors during the first quarter worth $40,000. Finally, Ossiam bought a new position in General Motors during the fourth quarter worth $44,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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 stock was 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 directly owned 12,007 shares in the company, valued at approximately $661,585.70. The trade was a 75.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 23,977 shares of the business's stock in a transaction that occurred 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 of the company's stock, 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. Corporate insiders own 0.54% of the company's stock.

General Motors Trading Up 3.2%

NYSE:GM traded up $1.7930 on Friday, hitting $58.3030. 6,313,781 shares of the stock were exchanged, compared to its average volume of 7,222,763. The stock has a market capitalization 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 52 week low of $41.60 and a 52 week high of $61.24. 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 company's 50-day moving average price is $52.51 and its 200 day moving average price is $49.20.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.01. The firm had revenue of $47.12 billion during 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 company's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, equities research analysts forecast that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. General Motors's dividend payout ratio is 9.52%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GM. The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a research report on Friday, July 11th. Piper Sandler reiterated a "neutral" rating and set a $48.00 price target (up previously from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Benchmark assumed coverage on shares of General Motors in a research note on Monday, July 21st. They set a "buy" rating and a $65.00 price target on the stock. Wedbush boosted their target price on shares of General Motors from $55.00 to $65.00 and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Finally, Citigroup boosted their target price on shares of General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. One research 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 assigned a Sell rating to the company's stock. According to MarketBeat, the stock 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.