New York Life Investment Management LLC Has $6.66 Million Stake in General Motors Company $GM

New York Life Investment Management LLC decreased its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,252 shares of the auto manufacturer’s stock after selling 1,841 shares during the quarter. New York Life Investment Management LLC’s holdings in General Motors were worth $6,656,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sowell Financial Services LLC grew its position in shares of General Motors by 2.9% in the second quarter. Sowell Financial Services LLC now owns 6,834 shares of the auto manufacturer’s stock valued at $336,000 after purchasing an additional 195 shares during the last quarter. ICONIQ Capital LLC grew its position in General Motors by 4.2% during the first quarter. ICONIQ Capital LLC now owns 5,434 shares of the auto manufacturer’s stock worth $256,000 after buying an additional 220 shares in the last quarter. Hohimer Wealth Management LLC grew its position in General Motors by 0.3% during the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer’s stock worth $3,310,000 after buying an additional 230 shares in the last quarter. HHM Wealth Advisors LLC grew its position in General Motors by 14.4% during the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer’s stock worth $86,000 after buying an additional 232 shares in the last quarter. Finally, Aaron Wealth Advisors LLC grew its position in General Motors by 3.6% during the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer’s stock worth $316,000 after buying an additional 235 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 260,600 shares of the stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $66.45, for a total value of $17,316,870.00. Following the completion of the transaction, the president directly owned 98,006 shares in the company, valued at approximately $6,512,498.70. This represents a 72.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 907,024 shares of the 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 completion of the transaction, the chief executive officer owned 552,238 shares of the company’s stock, valued at $32,162,341.12. The trade was a 62.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,335,424 shares of company stock valued at $139,694,083 over the last quarter. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GM shares. Piper Sandler set a $66.00 price target on General Motors and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Jefferies Financial Group increased their price target on General Motors from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, October 6th. Benchmark reissued a “buy” rating on shares of General Motors in a research report on Wednesday, October 22nd. Citigroup increased their price target on General Motors from $75.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. upped their target price on General Motors from $60.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.00.

General Motors Stock Down 1.2%

NYSE GM opened at $69.07 on Thursday. The business has a fifty day moving average price of $59.84 and a two-hundred day moving average price of $53.44. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 1.06. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $70.24. The stock has a market capitalization of $64.43 billion, a PE ratio of 13.90, a PEG ratio of 0.97 and a beta of 1.33.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share for the quarter, topping 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 firm had revenue of $48.59 billion during the quarter, compared to analysts’ expectations of $44.60 billion. During the same period in the prior year, the company earned $2.96 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Equities 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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, December 5th. General Motors’s dividend payout ratio is presently 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.