DNB Asset Management AS Cuts Stake in General Motors Company $GM

DNB Asset Management AS reduced its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 10.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,509 shares of the auto manufacturer’s stock after selling 19,541 shares during the period. DNB Asset Management AS’s holdings in General Motors were worth $8,489,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Trust Co. of Toledo NA OH acquired a new position in shares of General Motors during the second quarter worth about $25,000. GFG Capital LLC acquired a new position in General Motors during the 2nd quarter worth approximately $27,000. RMG Wealth Management LLC purchased a new stake in shares of General Motors in the 2nd quarter valued at approximately $32,000. Costello Asset Management INC acquired a new stake in shares of General Motors in the 1st quarter valued at $32,000. Finally, WPG Advisers LLC acquired a new stake in shares of General Motors in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating on shares of General Motors in a report on Wednesday, October 22nd. Mizuho set a $76.00 price objective on General Motors in a report on Wednesday, October 22nd. Wells Fargo & Company boosted their price target on shares of General Motors from $40.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, October 22nd. UBS Group lifted their target price on General Motors from $81.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Barclays upped their target price on General Motors from $77.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.00.

Insider Transactions at General Motors

In other General Motors news, CEO Mary T. Barra sold 907,024 shares of the company’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. This represents a 62.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Christopher Hatto sold 23,400 shares of General Motors stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $61.01, for a total transaction of $1,427,634.00. Following the sale, the chief accounting officer owned 12,007 shares of the company’s stock, valued at approximately $732,547.07. The trade was a 66.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,298,064 shares of company stock valued at $138,050,080. Corporate insiders own 0.54% of the company’s stock.

General Motors Stock Performance

Shares of GM stock opened at $70.20 on Friday. The stock’s 50-day moving average price is $63.65 and its 200 day moving average price is $56.29. The company has a quick ratio of 1.06, a current ratio of 1.23 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $65.49 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 0.96 and a beta of 1.41. General Motors Company has a 52-week low of $41.60 and a 52-week high of $72.87.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.48. General Motors had a return on equity of 12.29% and a net margin of 1.62%.The company had revenue of $48.59 billion for the quarter, compared to the consensus estimate of $44.60 billion. During the same period last year, the business posted $2.96 EPS. The company’s revenue 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 research analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The firm also recently announced 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s dividend payout ratio is 12.07%.

General Motors Company 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.