Nordea Investment Management AB Lowers Holdings in General Motors Company $GM

Nordea Investment Management AB lowered its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 14.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 49,048 shares of the auto manufacturer’s stock after selling 8,287 shares during the period. Nordea Investment Management AB’s holdings in General Motors were worth $2,415,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in General Motors by 146.8% during the 1st quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer’s stock valued at $629,196,000 after purchasing an additional 8,012,743 shares during the period. Vanguard Group Inc. boosted its stake in shares of General Motors by 6.9% during the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer’s stock valued at $4,672,023,000 after purchasing an additional 6,395,375 shares in the last quarter. Nuveen LLC purchased a new position in General Motors during the first quarter valued at approximately $175,889,000. Kingstone Capital Partners Texas LLC purchased a new stake in General Motors during the second quarter worth $125,583,000. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in 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 buying an additional 1,910,186 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of GM stock opened at $67.19 on Thursday. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $67.59. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. The firm has a market capitalization of $63.97 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.67 and a beta of 1.33. The stock’s 50-day simple moving average is $58.61 and its 200-day simple moving average is $52.45.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.36%. The company had revenue of $48.59 billion during the quarter, compared to analysts’ expectations of $44.60 billion. During the same period last year, the business earned $2.96 EPS. General Motors’s revenue for the quarter was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. As a group, equities analysts forecast that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. General Motors’s payout ratio is 12.07%.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the transaction, the executive vice president directly owned 8,513 shares of the company’s stock, valued at approximately $451,274.13. This represents a 73.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Mark L. Reuss sold 136,161 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $60.12, for a total value of $8,185,999.32. Following the completion of the sale, the president owned 131,036 shares in the company, valued at approximately $7,877,884.32. This represents a 50.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,074,824 shares of company stock valued at $122,377,213 in the last quarter. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price objective on General Motors from $77.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler set a $66.00 target price on shares of General Motors and gave the stock a “neutral” rating in a report on Tuesday. Cowen reissued a “buy” rating on shares of General Motors in a research report on Tuesday. Wedbush set a $75.00 price target on shares of General Motors and gave the company an “outperform” rating in a report on Tuesday. Finally, TD Cowen lifted their price objective on shares of General Motors from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.95.

About General Motors

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.