Tevis Investment Management Decreases Stock Holdings in General Motors Company $GM
by Jessica Moore · The Cerbat GemTevis Investment Management trimmed its position in shares of General Motors Company (NYSE:GM – Free Report) (TSE:GMM.U) by 4.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 21,599 shares of the auto manufacturer’s stock after selling 1,032 shares during the quarter. Tevis Investment Management’s holdings in General Motors were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC lifted its stake in shares of General Motors by 2.9% in the 2nd quarter. Sowell Financial Services LLC now owns 6,834 shares of the auto manufacturer’s stock valued at $336,000 after acquiring an additional 195 shares during the last quarter. ICONIQ Capital LLC grew its stake in shares of General Motors by 4.2% in the 1st quarter. ICONIQ Capital LLC now owns 5,434 shares of the auto manufacturer’s stock worth $256,000 after buying an additional 220 shares during the last quarter. Hohimer Wealth Management LLC grew its stake in shares of General Motors by 0.3% in the 1st quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer’s stock worth $3,310,000 after buying an additional 230 shares during the last quarter. HHM Wealth Advisors LLC grew its stake in shares of General Motors by 14.4% in the 1st quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer’s stock worth $86,000 after buying an additional 232 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its stake in shares of General Motors by 3.6% in the 1st quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer’s stock worth $316,000 after buying an additional 235 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.
Wall Street Analysts Forecast Growth
GM has been the topic of several recent research reports. Citigroup upped their price target on General Motors from $75.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Evercore ISI upped their price objective on General Motors from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Wells Fargo & Company upped their price objective on General Motors from $40.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, October 22nd. Argus set a $78.00 price objective on General Motors in a research report on Thursday. Finally, Wall Street Zen raised General Motors from a “hold” rating to a “buy” rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.00.
Check Out Our Latest Stock Report on General Motors
General Motors Price Performance
Shares of General Motors stock opened at $69.36 on Tuesday. General Motors Company has a one year low of $41.60 and a one year high of $69.70. The stock’s fifty day moving average is $59.34 and its 200 day moving average is $53.08. The stock has a market cap of $64.70 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.96 and a beta of 1.33. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.06 and a current ratio of 1.23.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.48. General Motors had a return on equity of 12.29% and a net margin of 1.62%.The business had revenue of $48.59 billion during the quarter, compared to analyst estimates of $44.60 billion. During the same quarter in the prior year, the business posted $2.96 EPS. General Motors’s revenue for the quarter was down .3% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Sell-side analysts anticipate that General Motors Company will post 11.44 earnings per share for the current year.
General Motors Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, December 5th. General Motors’s dividend payout ratio is presently 12.07%.
Insiders Place Their Bets
In other General Motors news, CEO Mary T. Barra sold 753,720 shares of the stock in a transaction on Wednesday, September 24th. The stock was 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 owned 433,527 shares in the company, valued at approximately $25,989,943.65. This represents a 63.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Mark L. Reuss sold 260,600 shares of the stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $66.45, for a total value of $17,316,870.00. Following the completion of the sale, the president owned 98,006 shares of the company’s stock, valued at $6,512,498.70. The trade was a 72.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,335,424 shares of company stock worth $139,694,083. 0.54% of the stock is currently owned by corporate insiders.
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.
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