OVERSEA CHINESE BANKING Corp Ltd Grows Stock Position in General Motors Company $GM

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 24.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 72,722 shares of the auto manufacturer’s stock after purchasing an additional 14,122 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in General Motors were worth $3,578,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Chilton Capital Management LLC increased its position in shares of General Motors by 941.1% during the 2nd quarter. Chilton Capital Management LLC now owns 3,800 shares of the auto manufacturer’s stock valued at $187,000 after purchasing an additional 3,435 shares during the last quarter. Optimum Investment Advisors increased its holdings in General Motors by 60.0% in the 2nd quarter. Optimum Investment Advisors now owns 800 shares of the auto manufacturer’s stock worth $39,000 after acquiring an additional 300 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in General Motors in the 2nd quarter worth approximately $6,212,000. Interchange Capital Partners LLC increased its holdings in General Motors by 14.4% in the 2nd quarter. Interchange Capital Partners LLC now owns 8,878 shares of the auto manufacturer’s stock worth $437,000 after acquiring an additional 1,120 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in General Motors by 72.5% in the 2nd quarter. Brighton Jones LLC now owns 71,538 shares of the auto manufacturer’s stock worth $3,520,000 after acquiring an additional 30,068 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GM shares. JPMorgan Chase & Co. increased their target price on shares of General Motors from $60.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, September 30th. Industrial Alliance Securities set a $70.00 target price on shares of General Motors in a report on Friday, July 11th. Benchmark reissued a “buy” rating on shares of General Motors in a report on Wednesday, October 22nd. Citigroup increased their target price on shares of General Motors from $75.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Mizuho set a $76.00 price objective on shares of General Motors in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

General Motors Stock Performance

Shares of General Motors stock opened at $69.36 on Tuesday. The firm has a market cap of $64.70 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.96 and a beta of 1.33. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.40. General Motors Company has a 12 month low of $41.60 and a 12 month high of $69.70. The stock’s fifty day moving average price is $59.34 and its 200-day moving average price is $53.08.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 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 analyst estimates 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 for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $2.96 earnings per share. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. On average, equities research analysts expect that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, December 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. General Motors’s dividend payout ratio (DPR) is currently 12.07%.

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 260,600 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $66.45, for a total transaction of $17,316,870.00. Following the transaction, the president owned 98,006 shares in the company, valued at approximately $6,512,498.70. This trade represents a 72.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mary T. Barra sold 907,024 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $58.24, for a total value of $52,825,077.76. Following the transaction, the chief executive officer owned 552,238 shares in the company, valued at approximately $32,162,341.12. This represents a 62.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,335,424 shares of company stock worth $139,694,083. Corporate insiders own 0.54% of the company’s stock.

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.