Convergence Investment Partners LLC Cuts Stock Holdings in General Motors Company $GM

Convergence Investment Partners LLC trimmed its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 1.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,805 shares of the auto manufacturer’s stock after selling 486 shares during the period. Convergence Investment Partners LLC’s holdings in General Motors were worth $1,762,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GM. AQR Capital Management LLC grew its stake in General Motors by 146.8% during the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer’s stock valued at $629,196,000 after acquiring an additional 8,012,743 shares in the last quarter. Vanguard Group Inc. grew its stake in General Motors by 6.9% during the first 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 purchased a new position in General Motors during the first quarter valued at $175,889,000. Kingstone Capital Partners Texas LLC purchased a new position in General Motors during the second quarter valued at $125,583,000. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in General Motors by 17.5% during the first 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 owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Christopher Hatto sold 23,400 shares of General Motors stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $61.01, for a total transaction of $1,427,634.00. Following the completion of the sale, the chief accounting officer owned 12,007 shares in the company, valued at $732,547.07. This trade represents a 66.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Rory Harvey sold 6,600 shares of General Motors stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $61.95, for a total transaction of $408,870.00. Following the sale, the executive vice president owned 8,513 shares of the company’s stock, valued at $527,380.35. The trade was a 43.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,335,424 shares of company stock worth $139,694,083 over the last 90 days. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GM shares. Citigroup raised their target price on shares of General Motors from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank Of Canada increased their price objective on shares of General Motors from $77.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays increased their price objective on shares of General Motors from $77.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday. Argus set a $78.00 price objective on shares of General Motors in a research report on Thursday. Finally, Cowen reiterated a “buy” rating on shares of General Motors in a research report on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.00.

General Motors Price Performance

General Motors stock opened at $69.60 on Monday. The firm has a 50-day moving average price of $59.08 and a 200-day moving average price of $52.91. The firm has a market capitalization of $64.92 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 0.96 and a beta of 1.33. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.40. General Motors Company has a 12-month low of $41.60 and a 12-month high of $69.70.

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 (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.48. The firm had revenue of $48.59 billion during the quarter, compared to analyst estimates of $44.60 billion. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $2.96 EPS. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. As a group, equities research analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, December 5th. General Motors’s dividend payout ratio (DPR) is 12.07%.

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.