Employees Retirement System of Texas Purchases New Position in General Motors Company $GM

Employees Retirement System of Texas acquired a new position in General Motors Company (NYSE:GM) (TSE:GMM.U) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,940 shares of the auto manufacturer’s stock, valued at approximately $440,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trust Co. of Toledo NA OH bought a new stake in shares of General Motors during the second quarter valued at approximately $25,000. GFG Capital LLC purchased a new position in General Motors during the second quarter valued at $27,000. Costello Asset Management INC bought a new stake in shares of General Motors during the 1st quarter valued at $32,000. RMG Wealth Management LLC purchased a new stake in shares of General Motors in the 2nd quarter worth about $32,000. Finally, WPG Advisers LLC bought a new position in shares of General Motors in the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GM. TD Cowen upped their price objective on shares of General Motors from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Benchmark restated a “buy” rating on shares of General Motors in a research note on Wednesday, October 22nd. Weiss Ratings cut General Motors from a “buy (b-)” rating to a “hold (c)” rating in a research note on Saturday, October 25th. Tigress Financial boosted their target price on General Motors from $88.00 to $92.00 and gave the stock a “strong-buy” rating in a report on Friday, October 24th. Finally, Argus set a $78.00 price target on General Motors in a report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, General Motors has an average rating of “Moderate Buy” and an average target price of $70.27.

General Motors Stock Up 0.1%

General Motors stock opened at $72.82 on Friday. General Motors Company has a 12 month low of $41.60 and a 12 month high of $73.45. The stock has a fifty day simple moving average of $64.72 and a two-hundred day simple moving average of $56.93. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.40. The firm has a market cap of $67.93 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 0.96 and a beta of 1.41.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.48. General Motors had a return on equity of 12.29% and a net margin of 1.62%.The firm had revenue of $48.59 billion for the quarter, compared to the consensus estimate of $44.60 billion. During the same period in the prior year, the company posted $2.96 earnings per share. The company’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. Equities analysts predict 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 paid a $0.15 dividend. The ex-dividend date is Friday, December 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. General Motors’s payout ratio is currently 12.07%.

Insider Activity at General Motors

In other news, CAO Christopher Hatto sold 23,400 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $61.01, for a total transaction of $1,427,634.00. Following the transaction, the chief accounting officer directly owned 12,007 shares of the company’s stock, valued at $732,547.07. This represents a 66.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Rory Harvey sold 6,600 shares of General Motors stock in a transaction on Friday, September 26th. The stock was sold at an average price of $61.95, for a total value of $408,870.00. Following the completion of the sale, the executive vice president directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold 1,288,534 shares of company stock worth $79,253,568 in the last three months. 0.54% of the stock is currently owned by company insiders.

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.