Johnson Investment Counsel Inc. Decreases Stake in General Motors Company $GM

Johnson Investment Counsel Inc. lowered its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 10.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,329 shares of the auto manufacturer’s stock after selling 987 shares during the period. Johnson Investment Counsel Inc.’s holdings in General Motors were worth $410,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of General Motors by 6.9% in the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer’s stock worth $4,672,023,000 after buying an additional 6,395,375 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of General Motors by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer’s stock worth $676,322,000 after purchasing an additional 316,196 shares during the last quarter. Invesco Ltd. raised its holdings in shares of General Motors by 4.5% during the first quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer’s stock worth $646,482,000 after purchasing an additional 594,217 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of General Motors by 146.8% during the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer’s stock worth $629,196,000 after purchasing an additional 8,012,743 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of General Motors by 17.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer’s stock worth $603,048,000 after purchasing an additional 1,910,186 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

GM has been the subject of several recent research reports. Mizuho raised their target price on shares of General Motors from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, September 23rd. Jefferies Financial Group raised their target price on shares of General Motors from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, October 6th. Evercore ISI raised their target price on shares of General Motors from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday. Industrial Alliance Securities set a $70.00 target price on shares of General Motors in a report on Friday, July 11th. Finally, Citigroup raised their target price on shares of General Motors from $61.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Insider Buying and Selling at General Motors

In related news, CEO Mary T. Barra sold 907,024 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $58.24, for a total transaction of $52,825,077.76. Following the transaction, the chief executive officer directly owned 552,238 shares in the company, valued at approximately $32,162,341.12. The trade was a 62.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 23,977 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the transaction, the executive vice president owned 8,513 shares in the company, valued at $451,274.13. The trade was a 73.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,074,824 shares of company stock valued at $122,377,213. Insiders own 0.54% of the company’s stock.

General Motors Stock Up 1.3%

Shares of NYSE GM opened at $57.88 on Thursday. The company’s 50-day simple moving average is $57.86 and its 200-day simple moving average is $51.93. General Motors Company has a 52-week low of $41.60 and a 52-week high of $62.14. The firm has a market cap of $55.10 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 1.20 and a beta of 1.33. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same quarter last year, the business earned $3.06 earnings per share. The company’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 analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, September 5th were given a $0.15 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. General Motors’s dividend payout ratio (DPR) is 9.52%.

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.