20,771 General Motors Company $GM Shares Sold by Danske Bank A S

Danske Bank A S lessened its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 1.8% during the third quarter, Holdings Channel.com reports. The fund owned 1,156,866 shares of the auto manufacturer’s stock after selling 20,771 shares during the period. Danske Bank A S’s holdings in General Motors were worth $89,079,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. McKinney Capital Management LLC acquired a new position in General Motors in the 3rd quarter valued at $1,429,000. Ibex Wealth Advisors lifted its position in shares of General Motors by 26.5% during the 3rd quarter. Ibex Wealth Advisors now owns 15,882 shares of the auto manufacturer’s stock valued at $1,223,000 after acquiring an additional 3,331 shares during the period. Aberdeen Group plc lifted its position in shares of General Motors by 1.5% during the 3rd quarter. Aberdeen Group plc now owns 1,917,753 shares of the auto manufacturer’s stock valued at $147,667,000 after acquiring an additional 28,678 shares during the period. Allworth Financial LP grew its holdings in shares of General Motors by 6.8% during the 3rd quarter. Allworth Financial LP now owns 25,109 shares of the auto manufacturer’s stock worth $1,935,000 after purchasing an additional 1,604 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of General Motors by 12.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,925,457 shares of the auto manufacturer’s stock worth $225,877,000 after purchasing an additional 318,762 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GM. BNP Paribas Exane raised their price target on General Motors from $102.00 to $112.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. Wells Fargo & Company boosted their price target on General Motors from $60.00 to $61.00 and gave the company an “underweight” rating in a research note on Wednesday, July 22nd. TD Cowen reaffirmed a “buy” rating and set a $132.00 price objective on shares of General Motors in a research report on Wednesday, October 21st. Barclays reduced their price objective on shares of General Motors from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Finally, Truist Financial set a $105.00 target price on shares of General Motors in a report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.44.

General Motors Price Performance

Shares of General Motors stock traded down $0.29 during trading on Friday, reaching $85.96. 3,377,905 shares of the company’s stock were exchanged, compared to its average volume of 8,864,918. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.94 and a current ratio of 1.09. General Motors Company has a 1-year low of $67.06 and a 1-year high of $93.70. The company has a market cap of $72.51 billion, a P/E ratio of 19.72, a PEG ratio of 0.49 and a beta of 1.40. The firm’s 50-day moving average price is $83.54 and its 200 day moving average price is $80.99.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 20th. The auto manufacturer reported $3.70 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.01. The business had revenue of $50.02 billion for the quarter, compared to analyst estimates of $48.78 billion. General Motors had a return on equity of 19.36% and a net margin of 2.12%. General Motors’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $2.80 earnings per share. As a group, research analysts anticipate that General Motors Company will post 13.36 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, December 4th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $0.72 annualized dividend and a yield of 0.8%. General Motors’s payout ratio is presently 16.51%.

General Motors declared that its Board of Directors has approved a stock buyback plan on Tuesday, October 20th that authorizes the company to repurchase $20 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 27.5% of its stock through open market purchases. Share repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

General Motors News Roundup

Here’s some of the latest news about GM:

• Neutral Sentiment: GM plans to leave the NYSE for Nasdaq after 115 years. The coverage highlights the listing move but does not describe a change to the company’s financial outlook or operations. Article: GM Ditches NYSE After 115 Years for the NASDAQ
• Negative Sentiment: GM is recalling about 12,000 Express and Savana vans over steering-gear assembly issues, creating a potential repair expense and another quality-related concern. Article: GM recalls 12K Express and Savana vans for steering gear assembly issues
• Negative Sentiment: Industry data cited in a report put the average new-car monthly payment near $776 in September, the highest since December 2023. Stretched buyer budgets could weigh on vehicle affordability and demand, including for GM. Article: A $776 Car Payment Is a Warning for Ford and General Motors

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 16,513 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $89.64, for a total value of $1,480,225.32. Following the completion of the transaction, the executive vice president owned 12,000 shares of the company’s stock, valued at approximately $1,075,680. This represents a 57.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.44% of the company’s stock.

General Motors Profile

General Motors Company designs, manufactures and sells cars, trucks, crossovers and sport utility vehicles. Its vehicle brands include Chevrolet, Buick, GMC and Cadillac, and its offerings also include vehicle parts, software and related services. GM Financial provides automotive financing and leasing products to customers and dealers. Founded in 1908, General Motors is headquartered in Detroit, Michigan. The company serves customers in North America and international markets, with operations and sales spanning multiple regions.