Vanguard Group Inc. Acquires 11,418,367 Shares of General Motors Company $GM

Vanguard Group Inc. boosted its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 11.5% in the second quarter, Holdings Channel.com reports. The fund owned 110,759,703 shares of the auto manufacturer’s stock after buying an additional 11,418,367 shares during the quarter. Vanguard Group Inc. owned about 0.12% of General Motors worth $5,450,485,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC boosted its holdings in shares of General Motors by 45.5% in the second quarter. Frank Rimerman Advisors LLC now owns 8,570 shares of the auto manufacturer’s stock valued at $422,000 after buying an additional 2,678 shares during the period. Westpac Banking Corp increased its position in shares of General Motors by 12.3% in the second quarter. Westpac Banking Corp now owns 31,453 shares of the auto manufacturer’s stock valued at $1,548,000 after acquiring an additional 3,439 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of General Motors by 66.7% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 423,003 shares of the auto manufacturer’s stock worth $20,816,000 after purchasing an additional 169,323 shares in the last quarter. Cornerstone Advisors LLC raised its position in General Motors by 27.1% during the second quarter. Cornerstone Advisors LLC now owns 85,900 shares of the auto manufacturer’s stock worth $4,227,000 after acquiring an additional 18,300 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its holdings in shares of General Motors by 39.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 8,261 shares of the auto manufacturer’s stock valued at $407,000 after purchasing an additional 2,338 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Price Performance

Shares of NYSE GM opened at $68.55 on Thursday. The business has a fifty day moving average price of $63.23 and a two-hundred day moving average price of $55.96. The stock has a market capitalization of $63.94 billion, a PE ratio of 13.79, a P/E/G ratio of 0.96 and a beta of 1.41. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 1.06. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $72.87.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.48. General Motors had a return on equity of 12.29% and a net margin of 1.62%.The company had revenue of $48.59 billion for the quarter, compared to analyst estimates of $44.60 billion. During the same period in the prior year, the firm posted $2.96 EPS. 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. As a group, equities analysts predict that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s dividend payout ratio (DPR) is currently 12.07%.

Insider Activity

In other news, CAO Christopher Hatto sold 23,400 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $61.01, for a total transaction of $1,427,634.00. Following the completion of the sale, the chief accounting officer owned 12,007 shares of the company’s stock, valued at approximately $732,547.07. This represents a 66.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 260,600 shares of the stock in a transaction that occurred 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 sale, the president owned 98,006 shares in the company, valued at $6,512,498.70. This represents a 72.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 2,298,064 shares of company stock worth $138,050,080. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank Of Canada upped their price objective on shares of General Motors from $77.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Benchmark reiterated a “buy” rating on shares of General Motors in a research note on Wednesday, October 22nd. Cowen reiterated a “buy” rating on shares of General Motors in a research note on Tuesday, October 21st. Jefferies Financial Group lifted their price target on General Motors from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, October 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of General Motors in a report on Tuesday, October 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, General Motors has an average rating of “Moderate Buy” and an average target price of $70.00.

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.