GK Wealth Management LLC Sells 6,314 Shares of General Motors Company $GM

GK Wealth Management LLC cut its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 43.0% during the second quarter, HoldingsChannel reports. The fund owned 8,377 shares of the auto manufacturer’s stock after selling 6,314 shares during the quarter. GK Wealth Management LLC’s holdings in General Motors were worth $412,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GM. ICONIQ Capital LLC grew its stake 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 boosted its holdings in shares of General Motors by 0.3% in the 1st quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer’s stock valued at $3,310,000 after buying an additional 230 shares in the last quarter. HHM Wealth Advisors LLC raised its stake in shares of General Motors by 14.4% during the 1st quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer’s stock worth $86,000 after acquiring an additional 232 shares in the last quarter. Aaron Wealth Advisors LLC lifted 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 valued at $316,000 after acquiring an additional 235 shares during the last quarter. Finally, Burford Brothers Inc. lifted its position in General Motors by 2.8% during the first quarter. Burford Brothers Inc. now owns 8,718 shares of the auto manufacturer’s stock valued at $410,000 after acquiring an additional 241 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Down 0.3%

GM opened at $58.51 on Monday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $61.24. The company has a fifty day moving average of $55.09 and a two-hundred day moving average of $50.35. The stock has a market capitalization of $55.71 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 1.23 and a beta of 1.32.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.01. The company had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.General Motors’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, research analysts expect that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. General Motors’s payout ratio is presently 9.52%.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the transaction, the executive vice president directly owned 8,513 shares in the company, valued at approximately $451,274.13. This represents a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Christopher Hatto sold 14,667 shares of General Motors stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $59.00, for a total transaction of $865,353.00. Following the completion of the sale, the chief accounting officer owned 12,007 shares in the company, valued at approximately $708,413. This trade represents a 54.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,070,311 shares of company stock valued at $62,095,433. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Bank of America cut their price target on shares of General Motors from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of General Motors in a research report on Thursday, July 24th. Barclays upgraded General Motors from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $55.00 to $73.00 in a research note on Friday. Benchmark assumed coverage on shares of General Motors in a research report on Monday, July 21st. They set a “buy” rating and a $65.00 target price on the stock. Finally, Industrial Alliance Securities set a $70.00 price objective on General Motors in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.00.

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.