Financial Perspectives Inc Decreases Stock Position in General Motors Company $GM

Financial Perspectives Inc lowered its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 8.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,220 shares of the auto manufacturer’s stock after selling 193 shares during the period. Financial Perspectives Inc’s holdings in General Motors were worth $109,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cassia Capital Partners LLC increased its holdings in shares of General Motors by 63.0% in the first quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer’s stock worth $879,000 after buying an additional 7,221 shares during the period. Mirova increased its holdings in General Motors by 4.1% during the 1st quarter. Mirova now owns 133,969 shares of the auto manufacturer’s stock valued at $6,301,000 after purchasing an additional 5,293 shares during the period. Capital Investment Advisors LLC increased its holdings in General Motors by 6.3% during the 2nd quarter. Capital Investment Advisors LLC now owns 8,811 shares of the auto manufacturer’s stock valued at $434,000 after purchasing an additional 526 shares during the period. AustralianSuper Pty Ltd increased its holdings in General Motors by 38.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock valued at $287,428,000 after purchasing an additional 1,712,033 shares during the period. Finally, Sowell Financial Services LLC purchased a new position in General Motors during the 1st quarter valued at about $312,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of GM opened at $58.40 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The business’s 50 day moving average price is $58.05 and its 200-day moving average price is $52.15. General Motors Company has a 52 week low of $41.60 and a 52 week high of $62.14. The stock has a market cap of $55.60 billion, a P/E ratio of 9.27, a P/E/G ratio of 1.72 and a beta of 1.33.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The firm had revenue of $47.12 billion for the quarter, compared to analysts’ expectations of $45.87 billion. During the same period in the previous year, the firm posted $3.06 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Equities research analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Mark L. Reuss sold 136,161 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $60.12, for a total value of $8,185,999.32. Following the sale, the president directly owned 131,036 shares of the company’s stock, valued at $7,877,884.32. The trade was a 50.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Christopher Hatto sold 23,400 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $61.01, for a total value of $1,427,634.00. Following the completion of the sale, the chief accounting officer directly owned 12,007 shares in the company, valued at approximately $732,547.07. This represents a 66.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,074,824 shares of company stock valued at $122,377,213. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GM. Jefferies Financial Group boosted their price target on General Motors from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, October 6th. JPMorgan Chase & Co. boosted their price target on General Motors from $60.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of General Motors in a research report on Wednesday, October 8th. Evercore ISI lifted their price objective on General Motors from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Finally, Mizuho lifted their price objective on General Motors from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, General Motors presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

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.