Korea Investment CORP Lowers Position in General Motors Company $GM

Korea Investment CORP decreased its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 21.5% in the second quarter, Holdings Channel.com reports. The fund owned 916,934 shares of the auto manufacturer’s stock after selling 250,678 shares during the period. Korea Investment CORP’s holdings in General Motors were worth $45,122,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in General Motors by 11.5% in the 2nd quarter. Vanguard Group Inc. now owns 110,759,703 shares of the auto manufacturer’s stock worth $5,450,485,000 after purchasing an additional 11,418,367 shares in the last quarter. AQR Capital Management LLC grew its position in shares of General Motors by 146.8% during the first 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 in the last quarter. Nuveen LLC bought a new stake in shares of General Motors in the first quarter worth about $175,889,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of General Motors in the second quarter worth about $125,583,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake 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 valued at $603,048,000 after buying an additional 1,910,186 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GM. The Goldman Sachs Group reaffirmed a “buy” rating on shares of General Motors in a research note on Tuesday, October 21st. JPMorgan Chase & Co. raised their target price on shares of General Motors from $60.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. Tigress Financial boosted their price target on shares of General Motors from $88.00 to $92.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 24th. Royal Bank Of Canada upped their price target on shares of General Motors from $77.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Evercore ISI increased their price objective on shares of General Motors from $68.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday. Three 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.27.

Insiders Place Their Bets

In related news, CAO Christopher Hatto sold 23,400 shares of the business’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $61.01, for a total transaction of $1,427,634.00. Following the completion of the transaction, the chief accounting officer owned 12,007 shares in the company, valued at $732,547.07. The trade was a 66.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 6,600 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $61.95, for a total value of $408,870.00. Following the completion of the sale, the executive vice president owned 8,513 shares in the company, valued at approximately $527,380.35. The trade was a 43.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,288,534 shares of company stock worth $79,253,568. Corporate insiders own 0.54% of the company’s stock.

General Motors Trading Up 0.1%

GM stock opened at $72.82 on Friday. General Motors Company has a twelve month low of $41.60 and a twelve month high of $73.45. The stock has a market capitalization of $67.93 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 0.96 and a beta of 1.41. 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 firm’s fifty day simple moving average is $64.72 and its two-hundred day simple moving average is $56.93.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly 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. The firm had revenue of $48.59 billion during the quarter, compared to analysts’ expectations of $44.60 billion. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.96 EPS. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. As a group, analysts anticipate that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, December 5th. General Motors’s 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.