Allspring Global Investments Holdings LLC Buys 38,364 Shares of General Motors Company $GM

Allspring Global Investments Holdings LLC grew its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 2.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,415,838 shares of the auto manufacturer’s stock after buying an additional 38,364 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in General Motors were worth $73,666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cassia Capital Partners LLC increased its holdings in General Motors by 63.0% during the 1st quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer’s stock worth $879,000 after purchasing an additional 7,221 shares in the last quarter. Mirova lifted its holdings in shares of General Motors by 4.1% in the first quarter. Mirova now owns 133,969 shares of the auto manufacturer’s stock valued at $6,301,000 after purchasing an additional 5,293 shares in the last quarter. Capital Investment Advisors LLC boosted its position in shares of General Motors by 6.3% during the second quarter. Capital Investment Advisors LLC now owns 8,811 shares of the auto manufacturer’s stock worth $434,000 after buying an additional 526 shares during the period. AustralianSuper Pty Ltd grew its holdings in shares of General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock worth $287,428,000 after buying an additional 1,712,033 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in General Motors in the 1st quarter valued at approximately $312,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

GM opened at $55.63 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. General Motors Company has a 12-month low of $41.60 and a 12-month high of $62.14. The business has a 50 day moving average of $57.67 and a 200-day moving average of $51.85. The stock has a market cap of $52.96 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 1.17 and a beta of 1.33.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating 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 business had revenue of $47.12 billion for the quarter, compared to analysts’ expectations of $45.87 billion. During the same quarter in the prior year, the business earned $3.06 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, equities research analysts expect 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 was paid on Thursday, September 18th. Stockholders of record on Friday, September 5th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, September 5th. General Motors’s dividend payout ratio (DPR) is currently 9.52%.

Insider Activity at General Motors

In other news, CEO Mary T. Barra sold 753,720 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $59.95, for a total transaction of $45,185,514.00. Following the completion of the sale, the chief executive officer owned 433,527 shares in the company, valued at $25,989,943.65. The trade was a 63.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christopher Hatto sold 23,400 shares of the stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $61.01, for a total value of $1,427,634.00. Following the transaction, the chief accounting officer owned 12,007 shares in the company, valued at approximately $732,547.07. This trade represents a 66.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,074,824 shares of company stock worth $122,377,213. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group raised General Motors from a “neutral” rating to a “buy” rating and upped their price target for the stock from $56.00 to $81.00 in a research report on Wednesday, September 24th. Mizuho boosted their price objective on shares of General Motors from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Industrial Alliance Securities set a $70.00 target price on shares of General Motors in a research report on Friday, July 11th. Evercore ISI lifted their price target on shares of General Motors from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Wedbush increased their price objective on shares of General Motors from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

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.