Plato Investment Management Ltd Sells 2,230 Shares of General Motors Company $GM

Plato Investment Management Ltd lowered its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 4.9% in the second quarter, HoldingsChannel reports. The fund owned 43,505 shares of the auto manufacturer’s stock after selling 2,230 shares during the period. Plato Investment Management Ltd’s holdings in General Motors were worth $2,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GM. Sowell Financial Services LLC increased its holdings in 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. Mayflower Financial Advisors LLC increased its holdings in General Motors by 4.1% in the second quarter. Mayflower Financial Advisors LLC now owns 5,163 shares of the auto manufacturer’s stock valued at $254,000 after purchasing an additional 205 shares during the last quarter. ICONIQ Capital LLC increased its holdings in General Motors by 4.2% in the first quarter. ICONIQ Capital LLC now owns 5,434 shares of the auto manufacturer’s stock valued at $256,000 after purchasing an additional 220 shares during the last quarter. Hohimer Wealth Management LLC increased its holdings in General Motors by 0.3% in the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer’s stock valued at $3,310,000 after purchasing an additional 230 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its holdings in General Motors by 14.4% in the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer’s stock valued at $86,000 after purchasing an additional 232 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 0.5%

NYSE:GM opened at $68.99 on Friday. General Motors Company has a 1 year low of $41.60 and a 1 year high of $70.24. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.40. The stock has a market cap of $64.36 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.96 and a beta of 1.33. The stock has a 50-day moving average price of $60.30 and a two-hundred day moving average price of $53.78.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $48.59 billion during the quarter, compared to analysts’ expectations of $44.60 billion. During the same period in the previous year, the firm earned $2.96 earnings per share. 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 analysts expect that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders 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 0.9%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s dividend payout ratio is currently 12.07%.

Analysts Set New Price Targets

GM has been the subject of a number of recent analyst reports. Cowen reiterated a “buy” rating on shares of General Motors in a report on Tuesday, October 21st. Tigress Financial upped their price objective on General Motors from $88.00 to $92.00 and gave the company a “strong-buy” rating in a report on Friday, October 24th. Wells Fargo & Company upped their price objective on General Motors from $40.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, October 22nd. Jefferies Financial Group upped their price objective on General Motors from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, October 6th. Finally, Argus set a $78.00 target price on General Motors in a research note on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

Insider Transactions at General Motors

In other news, CAO Christopher Hatto sold 36,804 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the completion of the transaction, the chief accounting officer directly owned 12,007 shares of the company’s stock, valued at $661,585.70. This represents a 75.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Mark L. Reuss sold 260,600 shares of the company’s stock in a transaction dated 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 transaction, the president directly owned 98,006 shares of the company’s stock, valued at $6,512,498.70. This represents a 72.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,351,121 shares of company stock valued at $140,792,873 over the last three months. 0.54% of the stock is currently owned by corporate insiders.

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.