110,087 Shares in General Motors Company $GM Acquired by CenterBook Partners LP

CenterBook Partners LP acquired a new stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 110,087 shares of the auto manufacturer’s stock, valued at approximately $8,477,000.

A number of other institutional investors have also recently added to or reduced their stakes in GM. BlackRock Inc. bought a new position in shares of General Motors during the 2nd quarter valued at $5,958,995,000. Dimensional Fund Advisors LP lifted its stake in shares of General Motors by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 14,225,518 shares of the auto manufacturer’s stock valued at $1,059,668,000 after purchasing an additional 77,100 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in General Motors by 1.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,559,990 shares of the auto manufacturer’s stock worth $659,804,000 after purchasing an additional 101,885 shares in the last quarter. Bank of America Corp DE bought a new stake in General Motors in the second quarter worth $629,465,000. Finally, Legal & General Group Plc acquired a new position in General Motors during the second quarter worth $599,066,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about General Motors

Here are the key news stories impacting General Motors this week:

• Positive Sentiment: Higher long-term earnings forecasts: Zacks Research raised its estimates for GM’s 2027 and 2028 earnings, including its FY2028 EPS forecast to $15.10 from $12.70. Zacks Research earnings forecast
• Positive Sentiment: Domestic battery-materials exposure: GM holds a 38% stake in Nevada’s Thacker Pass lithium project, which could support its longer-term EV battery supply chain. GM’s Thacker Pass stake
• Neutral Sentiment: Executive share sale: EVP Rory Harvey sold 16,513 shares under a pre-arranged Rule 10b5-1 plan, reducing his direct holding by 57.9%. The planned nature of the transaction makes it a less clear signal about his outlook. SEC filing
• Negative Sentiment: EV braking recall: GM is recalling about 67,000 Chevrolet and Cadillac EVs over a software issue that could cause loss of braking. An over-the-air fix may limit repair costs, but the safety risk and added scrutiny are concerns. EV braking recall
• Negative Sentiment: Further recall and legal overhangs: Reports describe additional recalls affecting more than 80,000 vehicles, while GM recently agreed to a $220 million settlement with 36 states over allegations involving driver-data practices. Additional vehicle recalls Driver-data settlement
• Negative Sentiment: Costs and product uncertainty: Automakers face higher material, logistics, and memory costs as pricing power weakens. Separately, a report says GM has dropped a planned electric Corvette SUV, raising questions about its EV product strategy. Automaker cost pressures Electric Corvette SUV report

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings upgraded General Motors from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, October 30th. Truist Financial set a $105.00 price target on General Motors in a research note on Wednesday, October 7th. Morgan Stanley lowered their price objective on General Motors from $101.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Yorkville Ives initiated coverage on General Motors in a research note on Monday, October 5th. They issued an “outperform” rating and a $100.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $98.00 target price on General Motors in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and an average target price of $101.44.

General Motors Stock Performance

NYSE:GM traded down $3.09 during midday trading on Friday, reaching $86.24. The stock had a trading volume of 9,045,294 shares, compared to its average volume of 8,390,107. The stock has a market capitalization of $72.75 billion, a P/E ratio of 19.78, a PEG ratio of 0.51 and a beta of 1.40. General Motors Company has a 1-year low of $67.06 and a 1-year high of $93.70. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.09 and a quick ratio of 0.94. The firm’s fifty day simple moving average is $83.35 and its 200-day simple moving average is $80.83.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 20th. The auto manufacturer reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.01. General Motors had a net margin of 2.12% and a return on equity of 19.36%. The firm had revenue of $50.02 billion during the quarter, compared to analyst estimates of $48.78 billion. During the same quarter in the previous year, the business earned $2.80 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that General Motors Company will post 13.37 EPS for the current fiscal year.

General Motors Dividend Announcement

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

General Motors announced that its Board of Directors has initiated a stock repurchase program on Tuesday, October 20th that authorizes the company to buy back $20 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 27.5% of its shares through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 16,513 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $89.64, for a total transaction of $1,480,225.32. Following the completion of the sale, the executive vice president owned 12,000 shares in the company, valued at $1,075,680. This represents a 57.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.44% of the stock is currently owned by insiders.

About General Motors

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.

Mary Barra has served as GM’s chief executive officer since 2014.