Federated Hermes Inc. Cuts Position in General Motors Company $GM

Federated Hermes Inc. lessened its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 6.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 892,166 shares of the auto manufacturer’s stock after selling 56,473 shares during the quarter. Federated Hermes Inc.’s holdings in General Motors were worth $43,904,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GM. Trust Co. of Toledo NA OH purchased a new position in shares of General Motors during the 2nd quarter valued at about $25,000. GFG Capital LLC bought a new position in General Motors during the second quarter valued at approximately $27,000. RMG Wealth Management LLC purchased a new position in shares of General Motors during the second quarter worth approximately $32,000. WPG Advisers LLC bought a new stake in shares of General Motors in the 1st quarter worth approximately $34,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of General Motors in the 2nd quarter worth approximately $38,000. Institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 753,720 shares of the stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $59.95, for a total value of $45,185,514.00. Following the completion of the transaction, the chief executive officer directly owned 433,527 shares of the company’s stock, valued at $25,989,943.65. This represents a 63.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 6,600 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $61.95, for a total transaction of $408,870.00. Following the completion of the sale, the executive vice president owned 8,513 shares of the company’s stock, valued at $527,380.35. This trade represents a 43.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,288,534 shares of company stock valued at $79,253,568. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GM has been the topic of a number of analyst reports. TD Cowen lifted their target price on shares of General Motors from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Wedbush set a $75.00 price objective on General Motors and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Argus set a $78.00 target price on General Motors in a report on Thursday, October 23rd. Wells Fargo & Company raised their price target on General Motors from $40.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 22nd. Finally, Mizuho set a $76.00 price objective on General Motors in a research report on Wednesday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Motors has a consensus rating of “Moderate Buy” and a consensus target price of $71.91.

General Motors Trading Down 0.4%

GM opened at $75.75 on Tuesday. General Motors Company has a one year low of $41.60 and a one year high of $77.00. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 1.06. The business has a 50 day simple moving average of $66.78 and a two-hundred day simple moving average of $58.24. The firm has a market capitalization of $70.66 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 0.87 and a beta of 1.30.

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

General Motors Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, December 5th. This represents a $0.60 annualized dividend and a yield of 0.8%. General Motors’s dividend payout ratio is 12.07%.

General Motors 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.