Oppenheimer Asset Management Inc. Sells 10,906 Shares of General Motors Company $GM

Oppenheimer Asset Management Inc. cut its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 1.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,108,574 shares of the auto manufacturer’s stock after selling 10,906 shares during the quarter. General Motors accounts for about 0.6% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 27th biggest holding. Oppenheimer Asset Management Inc.’s holdings in General Motors were worth $54,553,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GM. AQR Capital Management LLC boosted its stake in General Motors by 146.8% in the 1st 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 during the period. Vanguard Group Inc. raised its holdings in General Motors by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer’s stock valued at $4,672,023,000 after acquiring an additional 6,395,375 shares in the last quarter. Nuveen LLC acquired a new position in General Motors in the 1st quarter valued at $175,889,000. Kingstone Capital Partners Texas LLC acquired a new position in General Motors in the 2nd quarter valued at $125,583,000. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in General Motors by 17.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer’s stock valued at $603,048,000 after acquiring an additional 1,910,186 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Performance

Shares of GM stock opened at $69.60 on Friday. The business’s 50-day moving average price is $59.08 and its 200-day moving average price is $52.86. General Motors Company has a 12 month low of $41.60 and a 12 month high of $69.70. The firm has a market capitalization of $64.92 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.35 and a beta of 1.33. The company has a current ratio of 1.23, a quick ratio of 1.05 and a debt-to-equity ratio of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $44.60 billion. During the same period last year, the company earned $2.96 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. 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 disclosed 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. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. General Motors’s dividend payout ratio is 12.07%.

Wall Street Analysts Forecast Growth

GM has been the subject of several analyst reports. Bank of America dropped their price objective on General Motors from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Argus set a $78.00 price objective on General Motors in a report on Thursday. Mizuho set a $76.00 price objective on General Motors in a report on Wednesday. Tigress Financial lifted their price target on General Motors from $88.00 to $92.00 and gave the company a “strong-buy” rating in a research note on Friday. Finally, Benchmark reiterated a “buy” rating on shares of General Motors in a research note on Wednesday. Two 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.00.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 6,600 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $61.95, for a total transaction of $408,870.00. Following the transaction, the executive vice president directly owned 8,513 shares of the company’s stock, valued at $527,380.35. This represents a 43.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Mark L. Reuss sold 260,600 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total value of $17,316,870.00. Following the transaction, the president directly owned 98,006 shares in the company, valued at $6,512,498.70. This represents a 72.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,335,424 shares of company stock valued at $139,694,083. 0.54% of the stock is owned by company insiders.

General Motors 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.