Korea Investment CORP Sells 54,368 Shares of General Motors Company $GM

Korea Investment CORP cut its holdings in General Motors Company (NYSE:GMFree Report) (TSE:GMM.U) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 862,566 shares of the auto manufacturer’s stock after selling 54,368 shares during the quarter. Korea Investment CORP owned approximately 0.09% of General Motors worth $52,591,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Angeles Wealth Management LLC bought a new position in shares of General Motors in the third quarter worth about $218,000. First Trust Advisors LP grew its stake in shares of General Motors by 0.7% during the third quarter. First Trust Advisors LP now owns 600,407 shares of the auto manufacturer’s stock valued at $36,607,000 after purchasing an additional 4,149 shares during the last quarter. HUB Investment Partners LLC bought a new stake in shares of General Motors during the third quarter valued at approximately $235,000. Lauterbach Financial Advisors LLC acquired a new stake in shares of General Motors in the third quarter valued at approximately $235,000. Finally, Sunpointe LLC acquired a new stake in shares of General Motors in the third quarter valued at approximately $238,000. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GM has been the topic of several research reports. Mizuho upped their price objective on General Motors from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. TD Cowen restated a “buy” rating on shares of General Motors in a research report on Wednesday, January 28th. HSBC upped their price target on General Motors from $48.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, January 13th. Zacks Research lowered General Motors from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 27th. Finally, JPMorgan Chase & Co. boosted their price objective on General Motors from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.39.

Read Our Latest Stock Analysis on General Motors

General Motors Stock Performance

Shares of General Motors stock opened at $75.12 on Monday. The stock’s fifty day simple moving average is $81.50 and its 200 day simple moving average is $71.83. The company has a current ratio of 1.17, a quick ratio of 1.01 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $67.91 billion, a PE ratio of 24.96, a PEG ratio of 0.41 and a beta of 1.37. General Motors Company has a 12 month low of $41.60 and a 12 month high of $87.62.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last posted its earnings results on Tuesday, January 27th. The auto manufacturer reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.25. The firm had revenue of $45.29 billion during the quarter, compared to analysts’ expectations of $45.81 billion. General Motors had a return on equity of 14.72% and a net margin of 1.46%.The company’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.92 earnings per share. General Motors has set its FY 2026 guidance at 9.750-10.500 EPS. On average, research analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Friday, March 6th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from General Motors’s previous quarterly dividend of $0.15. General Motors’s dividend payout ratio (DPR) is currently 23.92%.

General Motors declared that its Board of Directors has authorized a share buyback plan on Tuesday, January 27th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Trending Headlines about General Motors

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General Motors Company Profile

(Free Report)

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.

Further Reading

Institutional Ownership by Quarter for General Motors (NYSE:GM)

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