Steward Partners Investment Advisory LLC Sells 14,571 Shares of General Motors Company $GM
by Scott Moore · The Cerbat GemSteward Partners Investment Advisory LLC reduced its stake in General Motors Company (NYSE:GM – Free Report) (TSE:GMM.U) by 20.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,558 shares of the auto manufacturer’s stock after selling 14,571 shares during the period. Steward Partners Investment Advisory LLC’s holdings in General Motors were worth $2,832,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of GM. Trust Co. of Toledo NA OH bought a new stake in shares of General Motors during the second quarter worth about $25,000. GFG Capital LLC acquired a new stake in General Motors during the 2nd quarter worth approximately $27,000. Costello Asset Management INC bought a new stake in General Motors during the 1st quarter worth approximately $32,000. RMG Wealth Management LLC acquired a new position in General Motors in the 2nd quarter valued at approximately $32,000. Finally, WPG Advisers LLC bought a new position in shares of General Motors during the first quarter valued at $34,000. Institutional investors own 92.67% of the company’s stock.
General Motors Stock Up 1.1%
Shares of NYSE:GM opened at $73.64 on Friday. General Motors Company has a 1 year low of $41.60 and a 1 year high of $73.86. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 1.06. The business’s 50-day moving average is $65.02 and its 200-day moving average is $57.10. The company has a market capitalization of $68.69 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 0.96 and a beta of 1.41.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last issued its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.48. The business had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $44.60 billion. General Motors had a return on equity of 12.29% and a net margin of 1.62%.The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $2.96 earnings per share. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Equities research analysts predict that General Motors Company will post 11.44 earnings per share for the current year.
General Motors Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, December 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.60 annualized dividend and a yield of 0.8%. General Motors’s dividend payout ratio is currently 12.07%.
Insider Activity at General Motors
In other General Motors news, CEO Mary T. Barra sold 753,720 shares of General Motors stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $59.95, for a total value of $45,185,514.00. Following the completion of the sale, the chief executive officer directly owned 433,527 shares of the company’s stock, valued at approximately $25,989,943.65. The trade was a 63.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 260,600 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $66.45, for a total transaction of $17,316,870.00. Following the transaction, the president directly owned 98,006 shares in the company, valued at $6,512,498.70. This trade represents a 72.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,288,534 shares of company stock valued at $79,253,568. Company insiders own 0.54% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on GM shares. Royal Bank Of Canada boosted their price objective on shares of General Motors from $77.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price target on General Motors from $60.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, September 30th. The Goldman Sachs Group reissued a “buy” rating on shares of General Motors in a research note on Tuesday, October 21st. TD Cowen lifted their price objective on General Motors from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, Citigroup upped their target price on General Motors from $75.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.27.
Get Our Latest Research Report on GM
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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