VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $47.10 Million Investment in General Motors Company $GM

Key Points

• The Virginia Retirement Systems acquired a new stake in General Motors, investing approximately $47.10 million for 957,012 shares, representing about 0.10% of the company.
• Wall Street analysts are optimistic about General Motors, with a consensus price target of $65.00 and multiple firms including Evercore ISI and Barclays raising their price targets.
• General Motors reported a net margin of 2.54% and a return on equity of 12.98% in its latest earnings, with a revenue of $47.12 billion for the quarter.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 957,012 shares of the auto manufacturer's stock, valued at approximately $47,095,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.10% of General Motors as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of 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 valued at $629,196,000 after buying an additional 8,012,743 shares during the period. Vanguard Group Inc. boosted its position in shares of General Motors by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock worth $4,672,023,000 after purchasing an additional 6,395,375 shares in the last quarter. Nuveen LLC purchased a new stake in shares of General Motors during the 1st quarter worth $175,889,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of General Motors during the 2nd quarter worth $125,583,000. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of 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 valued at $603,048,000 after purchasing an additional 1,910,186 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GM shares. Evercore ISI upped their price target on General Motors from $55.00 to $68.00 and gave the stock an "outperform" rating in a report on Monday, October 13th. Barclays lifted their price target on General Motors from $73.00 to $77.00 and gave the stock an "overweight" rating in a research note on Friday, October 10th. Wells Fargo & Company lifted their target price on shares of General Motors from $38.00 to $40.00 and gave the stock an "underweight" rating in a research report on Friday, October 3rd. CLSA upgraded shares of General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Finally, Benchmark assumed coverage on General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 price objective for the company. One research 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $65.00.

General Motors Stock Up 1.9%

Shares of NYSE GM opened at $58.40 on Friday. 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 stock has a market capitalization of $55.60 billion, a PE ratio of 9.27, a P/E/G ratio of 1.72 and a beta of 1.33. The firm has a fifty day moving average of $58.05 and a 200-day moving average of $52.10. General Motors Company has a 52-week low of $41.60 and a 52-week high of $62.14.

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

General Motors Announces Dividend

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

Insider Activity

In other news, EVP Rory Harvey sold 23,977 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the transaction, the executive vice president owned 8,513 shares of the company's stock, valued at approximately $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $52,825,077.76. Following the transaction, the chief executive officer directly owned 552,238 shares in the company, valued at approximately $32,162,341.12. This represents a 62.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,074,824 shares of company stock worth $122,377,213. 0.54% of the stock is owned by corporate insiders.

General Motors Company 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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