VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in General Motors Company $GM

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in General Motors Company (NYSE:GM) (TSE:GMM.U) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 318,262 shares of the auto manufacturer’s stock, valued at approximately $24,532,000.

A number of other hedge funds also recently made changes to their positions in the business. Cibc World Market Inc. raised its stake in shares of General Motors by 57.2% during the fourth quarter. Cibc World Market Inc. now owns 200,662 shares of the auto manufacturer’s stock valued at $16,318,000 after purchasing an additional 72,984 shares in the last quarter. Legal & General Group Plc acquired a new stake in General Motors in the second quarter worth about $599,066,000. Janney Montgomery Scott LLC grew its position in General Motors by 16.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 202,172 shares of the auto manufacturer’s stock valued at $15,062,000 after buying an additional 28,163 shares in the last quarter. Bank of Nova Scotia acquired a new position in General Motors during the 2nd quarter valued at about $63,428,000. Finally, NEOS Investment Management LLC raised its position in shares of General Motors by 8.8% during the 2nd quarter. NEOS Investment Management LLC now owns 146,561 shares of the auto manufacturer’s stock worth $11,297,000 after buying an additional 11,901 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other General Motors news, CAO Christopher Hatto sold 6,895 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $90.00, for a total transaction of $620,550.00. Following the completion of the sale, the chief accounting officer directly owned 18,899 shares in the company, valued at approximately $1,700,910. This trade represents a 26.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Rory Harvey sold 8,882 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $86.95, for a total value of $772,289.90. Following the completion of the transaction, the executive vice president owned 28,513 shares in the company, valued at $2,479,205.35. This represents a 23.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 648,904 shares of company stock worth $57,456,067. 0.44% of the stock is currently owned by company insiders.

General Motors Trading Down 0.1%

NYSE GM opened at $87.71 on Tuesday. General Motors Company has a twelve month low of $54.33 and a twelve month high of $91.85. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.97 and a current ratio of 1.14. The stock has a market cap of $76.96 billion, a price-to-earnings ratio of 44.30, a PEG ratio of 0.50 and a beta of 1.32. The firm’s 50 day moving average price is $83.47 and its two-hundred day moving average price is $79.88.

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

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors 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 0.8%. The ex-dividend date of this dividend is Friday, September 4th. General Motors’s payout ratio is presently 36.36%.

Wall Street Analyst Weigh In

GM has been the subject of several recent analyst reports. Citigroup increased their price objective on shares of General Motors from $108.00 to $131.00 and gave the company a “buy” rating in a report on Monday, June 1st. Wedbush reissued an “outperform” rating and set a $95.00 target price on shares of General Motors in a report on Monday, May 11th. Barclays upped their target price on General Motors from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Morgan Stanley increased their price target on General Motors from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Finally, UBS Group reiterated a “buy” rating on shares of General Motors in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.41.

General Motors Company Profile

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.