Woodline Partners LP Purchases 252,517 Shares of General Motors Company $GM

Woodline Partners LP boosted its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 382.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 318,552 shares of the auto manufacturer’s stock after acquiring an additional 252,517 shares during the quarter. Woodline Partners LP’s holdings in General Motors were worth $14,982,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Measured Risk Portfolios Inc. acquired a new position in shares of General Motors in the fourth quarter valued at $27,000. Costello Asset Management INC acquired a new position in shares of General Motors in the first quarter valued at $32,000. WPG Advisers LLC acquired a new position in shares of General Motors in the first quarter valued at $34,000. North Capital Inc. acquired a new position in shares of General Motors in the first quarter valued at $40,000. Finally, Banque Transatlantique SA acquired a new position in shares of General Motors in the first quarter valued at $40,000. 92.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on GM. Industrial Alliance Securities set a $70.00 price objective on shares of General Motors in a report on Friday, July 11th. Bank of America decreased their price objective on shares of General Motors from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Barclays upped their price objective on shares of General Motors from $45.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Benchmark started coverage on shares of General Motors in a research note on Monday, July 21st. They issued a “buy” rating and a $65.00 price target on the stock. Finally, CLSA upgraded shares of General Motors to a “moderate buy” rating in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.05.

Insiders Place Their Bets

In other General Motors news, CAO Christopher Hatto sold 14,667 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $59.00, for a total transaction of $865,353.00. Following the sale, the chief accounting officer directly owned 12,007 shares in the company, valued at $708,413. This represents a 54.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 87,839 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $58.13, for a total transaction of $5,106,081.07. The disclosure for this sale can be found here. Insiders have sold 1,070,311 shares of company stock worth $62,095,433 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

General Motors Trading Down 1.2%

GM stock opened at $57.33 on Thursday. The company has a market capitalization of $54.58 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 1.22 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 Company has a 52 week low of $41.60 and a 52 week high of $61.24. The company’s 50-day simple moving average is $54.86 and its 200 day simple moving average is $50.15.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.01. The firm had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, sell-side analysts anticipate that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, September 5th. General Motors’s dividend payout ratio 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.