General Motors Company $GM Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 30,333,569 shares of the auto manufacturer’s stock after selling 402,619 shares during the quarter. Franklin Resources Inc.’s holdings in General Motors were worth $1,492,715,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GM. Trust Co. of Toledo NA OH purchased a new stake in shares of General Motors in the second quarter valued at about $25,000. GFG Capital LLC purchased a new position in shares of General Motors during the 2nd quarter worth approximately $27,000. RMG Wealth Management LLC acquired a new position in shares of General Motors during the 2nd quarter worth approximately $32,000. Costello Asset Management INC purchased a new stake in General Motors in the 1st quarter valued at approximately $32,000. Finally, WPG Advisers LLC acquired a new stake in General Motors during the 1st quarter valued at $34,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 753,720 shares of General Motors stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $59.95, for a total value of $45,185,514.00. Following the transaction, the chief executive officer directly owned 433,527 shares of the company’s stock, valued at $25,989,943.65. The trade was a 63.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Rory Harvey sold 6,600 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $61.95, for a total value of $408,870.00. Following the sale, the executive vice president owned 8,513 shares of the company’s stock, valued at $527,380.35. The trade was a 43.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,298,064 shares of company stock worth $138,050,080 in the last three months. 0.54% of the stock is currently owned by insiders.

General Motors Price Performance

General Motors stock opened at $68.01 on Friday. General Motors Company has a 1 year low of $41.60 and a 1 year high of $72.87. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.06 and a current ratio of 1.23. The firm has a 50 day moving average price of $63.41 and a 200 day moving average price of $56.04. The company has a market cap of $63.44 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.96 and a beta of 1.41.

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

General Motors Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently weighed in on GM. Cowen reissued a “buy” rating on shares of General Motors in a report on Tuesday, October 21st. Argus set a $78.00 target price on shares of General Motors in a research note on Thursday, October 23rd. Royal Bank Of Canada raised their price target on shares of General Motors from $77.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Wedbush set a $75.00 price target on shares of General Motors and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Finally, Jefferies Financial Group upped their price objective on shares of General Motors from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, October 6th. Three 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 given a Sell rating to the stock. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

General Motors Company Profile

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.