Sciencast Management LP Sells 30,665 Shares of General Motors Company $GM

Key Points

• Sciencast Management LP reduced its stake in General Motors by 53.5%, owning 26,633 shares after selling 30,665 shares in the first quarter, with holdings valued at approximately $1.25 million.
• Several institutional investors have recently increased their stakes in General Motors, with 92.67% of the company’s stock now owned by institutional investors.
• General Motors announced a quarterly dividend of $0.15 per share, with an ex-dividend date of September 5, reflecting an annualized dividend yield of 1.0%.

Sciencast Management LP reduced its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 53.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,633 shares of the auto manufacturer's stock after selling 30,665 shares during the quarter. Sciencast Management LP's holdings in General Motors were worth $1,253,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GM. Brighton Jones LLC increased its position in 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 purchasing an additional 31,755 shares during the period. Cary Street Partners Financial LLC purchased a new position in General Motors during the 4th quarter valued at $176,000. Focus Partners Wealth increased its position in General Motors by 3.6% during the 4th quarter. Focus Partners Wealth now owns 111,321 shares of the auto manufacturer's stock valued at $5,957,000 after purchasing an additional 3,900 shares during the period. Guardian Wealth Advisors LLC NC purchased a new position in General Motors during the 4th quarter valued at $238,000. Finally, Hudson Bay Capital Management LP increased its position in General Motors by 874.6% during the 4th quarter. Hudson Bay Capital Management LP now owns 147,165 shares of the auto manufacturer's stock valued at $7,839,000 after purchasing an additional 166,165 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of the 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 transaction, the executive vice president owned 8,513 shares in the company, valued at $451,274.13. This represents a 73.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary T. Barra sold 907,024 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $58.24, for a total transaction of $52,825,077.76. Following the completion of the transaction, the chief executive officer owned 552,238 shares in the company, valued at $32,162,341.12. This trade represents a 62.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,070,311 shares of company stock worth $62,095,433 in the last quarter. Company insiders own 0.54% of the company's stock.

General Motors Stock Performance

GM traded down $0.20 during midday trading on Friday, hitting $58.51. 12,020,227 shares of the company traded hands, compared to its average volume of 11,344,765. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $55.71 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. The company's 50-day moving average is $54.97 and its 200 day moving average is $50.23. General Motors Company has a 52 week low of $41.60 and a 52 week high of $61.24.

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

General Motors Dividend Announcement

The firm also recently disclosed 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 9.52%.

Analyst Upgrades and Downgrades

GM has been the topic of a number of research analyst reports. Piper Sandler reissued a "neutral" rating and set a $48.00 price objective (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. Benchmark initiated coverage on shares of General Motors in a research report on Monday, July 21st. They issued a "buy" rating and a $65.00 target price on the stock. Industrial Alliance Securities set a $70.00 target price on shares of General Motors in a research report on Friday, July 11th. Finally, Barclays raised shares of General Motors from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $55.00 to $73.00 in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $59.00.

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.