Principle Wealth Partners LLC Boosts Stake in General Motors Company $GM

Principle Wealth Partners LLC lifted its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 6.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,153 shares of the auto manufacturer’s stock after buying an additional 522 shares during the period. Principle Wealth Partners LLC’s holdings in General Motors were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trust Co. of Toledo NA OH purchased a new position in shares of General Motors in the second quarter worth about $25,000. GFG Capital LLC purchased a new position in shares of General Motors in the second quarter worth about $27,000. RMG Wealth Management LLC purchased a new position in shares of General Motors in the second quarter worth about $32,000. Costello Asset Management INC purchased a new position in shares of General Motors in the first quarter worth about $32,000. Finally, WPG Advisers LLC purchased a new position in shares of General Motors in the first quarter worth about $34,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of GM opened at $66.82 on Friday. General Motors Company has a 1-year low of $41.60 and a 1-year high of $68.48. The stock has a market cap of $62.33 billion, a PE ratio of 13.44, a P/E/G ratio of 1.67 and a beta of 1.33. The firm has a 50-day simple moving average of $58.81 and a two-hundred day simple moving average of $52.61. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 1.05.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The business had revenue of $48.59 billion during the quarter, compared to analysts’ expectations of $44.60 billion. During the same period last year, the business earned $2.96 earnings per share. The business’s revenue for the quarter 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, analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared 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. The ex-dividend date 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 (DPR) is currently 12.07%.

Analyst Ratings Changes

Several research firms have recently weighed in on GM. Mizuho set a $76.00 price target on shares of General Motors in a research note on Wednesday. Cowen reaffirmed a “buy” rating on shares of General Motors in a research note on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of General Motors in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of General Motors from $60.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 30th. Finally, Evercore ISI lifted their target price on shares of General Motors from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, General Motors presently has a consensus rating of “Moderate Buy” and an average target price of $68.95.

Insider Activity at General Motors

In related news, President Mark L. Reuss sold 136,161 shares of General Motors stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $60.12, for a total value of $8,185,999.32. Following the completion of the transaction, the president owned 131,036 shares in the company, valued at approximately $7,877,884.32. The trade was a 50.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 6,600 shares of General Motors stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $61.95, for a total transaction of $408,870.00. Following the completion of the transaction, the executive vice president owned 8,513 shares of the company’s stock, valued at $527,380.35. This trade represents a 43.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,074,824 shares of company stock valued at $122,377,213 in the last ninety days. Insiders own 0.54% of the company’s stock.

About General Motors

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.