Access Investment Management LLC Buys Shares of 14,000 General Motors Company $GM

Access Investment Management LLC bought a new position in General Motors Company (NYSE:GM) (TSE:GMM.U) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,000 shares of the auto manufacturer’s stock, valued at approximately $689,000.

Other hedge funds also recently modified their holdings of the company. Mirova lifted its position in General Motors by 4.1% during the 1st 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 during the period. Capital Investment Advisors LLC lifted its holdings in shares of General Motors by 6.3% during the 2nd quarter. Capital Investment Advisors LLC now owns 8,811 shares of the auto manufacturer’s stock worth $434,000 after acquiring an additional 526 shares during the period. AustralianSuper Pty Ltd increased its stake in shares of General Motors by 38.9% in the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock valued at $287,428,000 after purchasing an additional 1,712,033 shares during the last quarter. Boston Partners acquired a new position in General Motors during the 1st quarter worth approximately $719,000. Finally, Malaga Cove Capital LLC bought a new stake in shares of General Motors during the first quarter worth about $292,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GM shares. Wells Fargo & Company lifted their target price on shares of General Motors from $40.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 22nd. Industrial Alliance Securities set a $70.00 target price on General Motors in a research report on Friday, July 11th. Piper Sandler set a $66.00 price target on General Motors and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Evercore ISI boosted their price objective on General Motors from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Finally, CLSA upgraded General Motors to a “moderate buy” rating in a research note on Monday, July 7th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.00.

Insider Activity at General Motors

In other news, CAO Christopher Hatto sold 36,804 shares of General Motors stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the transaction, the chief accounting officer owned 12,007 shares in the company, valued at $661,585.70. This trade represents a 75.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction of $17,316,870.00. Following the completion of the sale, the president directly owned 98,006 shares of the company’s stock, valued at approximately $6,512,498.70. This trade represents a 72.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,351,121 shares of company stock valued at $140,792,873 over the last ninety days. Company insiders own 0.54% of the company’s stock.

General Motors Stock Performance

Shares of NYSE GM opened at $68.99 on Monday. The stock has a market cap of $64.36 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 0.96 and a beta of 1.33. The stock’s 50-day moving average is $60.30 and its 200 day moving average is $53.84. General Motors Company has a 1-year low of $41.60 and a 1-year high of $70.24. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 21st. The auto manufacturer reported $2.80 EPS for the quarter, topping the consensus estimate of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The business had revenue of $48.59 billion for the quarter, compared to analyst estimates of $44.60 billion. During the same quarter in the previous year, the firm posted $2.96 earnings per share. General Motors’s quarterly revenue was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. On average, sell-side analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s dividend payout ratio (DPR) is presently 12.07%.

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.