Stoneridge Investment Partners LLC Has $3.03 Million Stock Position in General Motors Company $GM

Key Points

• Stoneridge Investment Partners LLC reduced its stake in General Motors by 40.4%, owning 64,450 shares now worth approximately $3.03 million, making it their 9th largest holding.
• General Motors recently reported $2.53 EPS for the quarter, slightly beating estimates, with revenues of $47.12 billion, although down 1.8% year-over-year.
• The company declared a quarterly dividend of $0.15 per share, with an upcoming ex-dividend date on September 5th, yielding about 1.1% annually.

Stoneridge Investment Partners LLC trimmed its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 40.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,450 shares of the auto manufacturer's stock after selling 43,631 shares during the quarter. General Motors makes up about 2.6% of Stoneridge Investment Partners LLC's portfolio, making the stock its 9th largest holding. Stoneridge Investment Partners LLC's holdings in General Motors were worth $3,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Measured Risk Portfolios Inc. bought a new stake in General Motors during the 4th quarter worth approximately $27,000. Costello Asset Management INC bought a new stake in General Motors during the 1st quarter worth approximately $32,000. Transce3nd LLC bought a new stake in General Motors during the 4th quarter worth approximately $34,000. North Capital Inc. bought a new stake in General Motors during the 1st quarter worth approximately $40,000. Finally, Ossiam bought a new stake in General Motors during the 4th quarter worth approximately $44,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GM has been the topic of several recent analyst reports. Industrial Alliance Securities set a $70.00 target price on shares of General Motors in a report on Friday, July 11th. JPMorgan Chase & Co. boosted their target price on shares of General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Royal Bank Of Canada restated an "outperform" rating on shares of General Motors in a report on Thursday, July 24th. Citigroup lifted their price objective 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. Finally, Bank of America lowered their price objective on shares of General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, General Motors has an average rating of "Hold" and an average price target of $58.05.

General Motors Price Performance

Shares of NYSE:GM opened at $57.0160 on Wednesday. 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 stock's fifty day simple moving average is $52.03 and its two-hundred day simple moving average is $49.01. General Motors Company has a 1-year low of $41.60 and a 1-year high of $61.24. The stock has a market cap of $54.28 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.19 and a beta of 1.36.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced 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 firm had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The business's revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm posted $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, analysts forecast that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company 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 dividend of $0.15 per share. The ex-dividend date is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. General Motors's dividend payout ratio is presently 9.52%.

Insider Buying and Selling at General Motors

In related news, CAO Christopher Hatto sold 36,804 shares of the stock in a transaction dated 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 sale, the chief accounting officer owned 12,007 shares of the company's stock, valued at approximately $661,585.70. This represents a 75.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 23,977 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the sale, the executive vice president directly owned 8,513 shares in the company, valued at $451,274.13. This trade represents a 73.80% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

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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