Ritholtz Wealth Management Raises Position in General Motors Company $GM

Key Points

• Ritholtz Wealth Management increased its stake in General Motors Company by 33.7% during the second quarter, owning 36,679 shares worth $1.8 million.
• General Motors reported a quarterly EPS of $2.53, slightly exceeding analysts' expectations, and had a revenue of $47.12 billion, down 1.8% year-over-year.
• Several analysts have raised their price targets for General Motors, with estimates ranging from $68.00 to $77.00, reflecting a generally optimistic outlook for the company's stock.

Ritholtz Wealth Management lifted its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 33.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,679 shares of the auto manufacturer's stock after purchasing an additional 9,253 shares during the period. Ritholtz Wealth Management's holdings in General Motors were worth $1,805,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GM. Cassia Capital Partners LLC raised its position in General Motors by 63.0% during the first quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock worth $879,000 after acquiring an additional 7,221 shares during the last quarter. Mirova grew its stake in General Motors by 4.1% during the first quarter. Mirova now owns 133,969 shares of the auto manufacturer's stock worth $6,301,000 after buying an additional 5,293 shares during the period. Capital Investment Advisors LLC grew its stake in General Motors by 6.3% during the second quarter. Capital Investment Advisors LLC now owns 8,811 shares of the auto manufacturer's stock worth $434,000 after buying an additional 526 shares during the period. AustralianSuper Pty Ltd grew its stake in General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after buying an additional 1,712,033 shares during the period. Finally, Sowell Financial Services LLC acquired a new stake in shares of General Motors during the first quarter valued at about $312,000. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Stock Down 0.8%

GM opened at $57.32 on Friday. General Motors Company has a twelve month low of $41.60 and a twelve month high of $62.14. The firm's 50-day simple moving average is $57.95 and its 200-day simple moving average is $52.00. 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 firm has a market cap of $54.57 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 1.71 and a beta of 1.33.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same quarter in the prior year, the firm earned $3.06 EPS. The company's 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. Equities research analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Friday, September 5th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, September 5th. General Motors's dividend payout ratio (DPR) is currently 9.52%.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 6,600 shares of the firm's stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $61.95, for a total transaction of $408,870.00. Following the completion of the transaction, the executive vice president directly owned 8,513 shares of the company's stock, valued at $527,380.35. This trade represents a 43.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Mark L. Reuss sold 136,161 shares of the firm's 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 transaction, the president directly owned 131,036 shares of the company's stock, valued at $7,877,884.32. This 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 2,074,824 shares of company stock valued at $122,377,213 in the last quarter. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GM shares. Evercore ISI upped their price target on shares of General Motors from $55.00 to $68.00 and gave the company an "outperform" rating in a report on Monday. Citigroup raised their price objective on shares of General Motors from $61.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. The Goldman Sachs Group raised their target price on shares of General Motors from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Monday, September 29th. Barclays raised their price target on shares of General Motors from $73.00 to $77.00 and gave the stock an "overweight" rating in a report on Friday, October 10th. Finally, Benchmark began coverage on shares of General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.00.

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.

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