KLP Kapitalforvaltning AS Acquires 4,200 Shares of General Motors Company $GM

KLP Kapitalforvaltning AS boosted its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 549,524 shares of the auto manufacturer’s stock after purchasing an additional 4,200 shares during the period. KLP Kapitalforvaltning AS owned about 0.06% of General Motors worth $27,042,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GM. Brighton Jones LLC lifted its stake in shares of General Motors by 456.1% in the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer’s stock valued at $2,062,000 after acquiring an additional 31,755 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of General Motors by 5.5% in the 1st quarter. UMB Bank n.a. now owns 8,293 shares of the auto manufacturer’s stock valued at $390,000 after acquiring an additional 434 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of General Motors by 10.8% in the 1st quarter. Wedmont Private Capital now owns 11,041 shares of the auto manufacturer’s stock valued at $482,000 after acquiring an additional 1,073 shares during the last quarter. OLD National Bancorp IN lifted its stake in shares of General Motors by 18.4% in the 1st quarter. OLD National Bancorp IN now owns 8,035 shares of the auto manufacturer’s stock valued at $378,000 after acquiring an additional 1,248 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its stake in shares of General Motors by 8.0% in the 1st quarter. Park Avenue Securities LLC now owns 51,663 shares of the auto manufacturer’s stock valued at $2,430,000 after acquiring an additional 3,814 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Performance

Shares of General Motors stock opened at $57.18 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The business has a 50-day moving average price of $57.41 and a two-hundred day moving average price of $51.67. General Motors Company has a 1-year low of $41.60 and a 1-year high of $62.14. The company has a market cap of $54.44 billion, a P/E ratio of 9.08, a PEG ratio of 1.23 and a beta of 1.33.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The firm had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. During the same period last year, the business posted $3.06 EPS. The business’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. As a group, analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, September 5th were issued 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 was Friday, September 5th. General Motors’s dividend payout ratio (DPR) is presently 9.52%.

Analyst Upgrades and Downgrades

GM has been the subject of a number of research reports. CLSA upgraded General Motors to a “moderate buy” rating in a research note on Monday, July 7th. JPMorgan Chase & Co. increased their price objective on General Motors from $60.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. Weiss Ratings restated a “buy (b-)” rating on shares of General Motors in a report on Saturday, September 27th. Jefferies Financial Group increased their price objective on General Motors from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday. Finally, UBS Group upgraded General Motors from a “neutral” rating to a “buy” rating and increased their price objective for the company from $56.00 to $81.00 in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.85.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 136,161 shares of the firm’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $60.12, for a total value of $8,185,999.32. Following the completion of the sale, the president directly owned 131,036 shares in the company, valued at $7,877,884.32. This trade represents a 50.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Rory Harvey sold 6,600 shares of the firm’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $61.95, for a total value of $408,870.00. Following the completion of the sale, the executive vice president owned 8,513 shares of the company’s stock, valued at approximately $527,380.35. This represents a 43.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,074,824 shares of company stock valued at $122,377,213. 0.54% of the stock is currently owned by 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.