Perigon Wealth Management LLC Purchases Shares of 23,603 General Motors Company $GM

Perigon Wealth Management LLC acquired a new position in General Motors Company (NYSE:GM) (TSE:GMM.U) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 23,603 shares of the auto manufacturer’s stock, valued at approximately $1,819,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of General Motors in the fourth quarter worth $918,724,000. Bank of New York Mellon Corp bought a new stake in shares of General Motors during the second quarter valued at about $522,916,000. Viking Global Investors LP lifted its holdings in General Motors by 81.1% in the second quarter. Viking Global Investors LP now owns 13,018,874 shares of the auto manufacturer’s stock worth $640,659,000 after purchasing an additional 5,830,050 shares during the period. Life Cycle Investment Partners Ltd bought a new position in General Motors in the 4th quarter valued at about $309,380,000. Finally, Two Sigma Investments LP increased its stake in General Motors by 348.4% during the 3rd quarter. Two Sigma Investments LP now owns 3,549,170 shares of the auto manufacturer’s stock valued at $216,393,000 after buying an additional 2,757,695 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Price Performance

NYSE GM opened at $84.45 on Tuesday. The stock’s 50-day moving average price is $81.67 and its two-hundred day moving average price is $79.52. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 1.42. The company has a market cap of $74.10 billion, a PE ratio of 42.65, a PEG ratio of 0.40 and a beta of 1.30. General Motors Company has a 1 year low of $54.33 and a 1 year high of $91.85.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 21st. The auto manufacturer reported $3.57 EPS for the quarter, topping the consensus estimate of $3.19 by $0.38. The company had revenue of $48.03 billion during the quarter, compared to analysts’ expectations of $47.01 billion. General Motors had a net margin of 1.05% and a return on equity of 18.18%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company posted $2.53 earnings per share. General Motors has set its FY 2026 guidance at 12.000-14.000 EPS. On average, analysts predict that General Motors Company will post 13.29 EPS for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Friday, September 4th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. General Motors’s payout ratio is presently 36.36%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GM shares. Wells Fargo & Company raised their price objective on shares of General Motors from $60.00 to $61.00 and gave the company an “underweight” rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price target on shares of General Motors from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Wedbush reissued an “outperform” rating and issued a $95.00 price target on shares of General Motors in a report on Monday, May 11th. Jefferies Financial Group upgraded shares of General Motors from a “hold” rating to a “buy” rating and boosted their target price for the stock from $90.00 to $99.00 in a report on Monday, July 27th. Finally, Tigress Financial increased their target price on shares of General Motors from $92.00 to $130.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.41.

Insider Buying and Selling

In related news, CAO Christopher Hatto sold 6,895 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $90.00, for a total value of $620,550.00. Following the completion of the sale, the chief accounting officer directly owned 18,899 shares of the company’s stock, valued at approximately $1,700,910. This represents a 26.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Mark L. Reuss sold 71,079 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.97, for a total value of $6,394,977.63. Following the sale, the president owned 92,293 shares of the company’s stock, valued at $8,303,601.21. The trade was a 43.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,247,053 shares of company stock valued at $106,763,425. 0.44% of the stock is currently owned by company insiders.

About General Motors

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.