General Motors Company $GM Position Trimmed by Swedbank AB

Key Points

• Swedbank AB has significantly reduced its stake in General Motors Company, lowering its holdings by 40.2% in the first quarter, now owning only 0.08% of the company valued at approximately $37.96 million.
• Insider trading activity is notable, with both CEO Mary T. Barra and CAO Christopher Hatto selling substantial amounts of shares, indicating potential shifts in confidence regarding the company's future prospects.
• General Motors reported earnings of $2.53 EPS for the most recent quarter, beating estimates, but noted a 1.8% decline in revenue year-over-year, which may raise concerns among investors.

Swedbank AB cut its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 40.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 807,093 shares of the auto manufacturer's stock after selling 543,597 shares during the quarter. Swedbank AB owned about 0.08% of General Motors worth $37,958,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in General Motors by 6.9% in the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock valued at $4,672,023,000 after purchasing an additional 6,395,375 shares during the period. Dimensional Fund Advisors LP lifted its holdings in General Motors by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer's stock worth $676,322,000 after buying an additional 316,196 shares in the last quarter. Invesco Ltd. lifted its holdings in General Motors by 4.5% in the 1st quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock worth $646,482,000 after buying an additional 594,217 shares in the last quarter. AQR Capital Management LLC lifted its holdings in General Motors by 146.8% in the 1st quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock worth $629,196,000 after buying an additional 8,012,743 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in General Motors by 17.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer's stock worth $603,048,000 after buying an additional 1,910,186 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on GM. JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Industrial Alliance Securities set a $70.00 price objective on shares of General Motors in a report on Friday, July 11th. CLSA upgraded shares of General Motors to a "moderate buy" rating in a report on Monday, July 7th. The Goldman Sachs Group restated a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Finally, Barclays upgraded shares of General Motors from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $55.00 to $73.00 in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, General Motors currently has an average rating of "Moderate Buy" and an average target price of $59.00.

Insider Buying and Selling at General Motors

In other news, CEO Mary T. Barra sold 29,486 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $59.92, for a total value of $1,766,801.12. Following the completion of the transaction, the chief executive officer directly owned 633,527 shares in the company, valued at $37,960,937.84. This trade represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christopher Hatto sold 14,667 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $59.00, for a total transaction of $865,353.00. Following the completion of the transaction, the chief accounting officer owned 12,007 shares of the company's stock, valued at $708,413. This trade represents a 54.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,104,256 shares of company stock worth $64,129,551. 0.54% of the stock is owned by company insiders.

General Motors Stock Performance

Shares of NYSE:GM traded up $0.28 during trading hours on Wednesday, hitting $58.74. The stock had a trading volume of 6,232,400 shares, compared to its average volume of 11,241,768. The stock's fifty day simple moving average is $55.35 and its 200 day simple moving average is $50.47. General Motors Company has a 1-year low of $41.60 and a 1-year high of $61.24. The firm has a market capitalization of $55.93 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 1.24 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same quarter last year, the business earned $3.06 earnings per share. General Motors's revenue was down 1.8% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Sell-side analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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

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.