Retirement Systems of Alabama Acquires 96,265 Shares of General Motors Company $GM

Retirement Systems of Alabama grew its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 10.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 985,432 shares of the auto manufacturer’s stock after buying an additional 96,265 shares during the period. Retirement Systems of Alabama owned 0.10% of General Motors worth $48,493,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trust Co. of Toledo NA OH acquired a new stake in shares of General Motors in the 2nd quarter valued at $25,000. GFG Capital LLC acquired a new stake in shares of General Motors in the 2nd quarter valued at $27,000. RMG Wealth Management LLC acquired a new stake in shares of General Motors in the 2nd quarter valued at $32,000. Costello Asset Management INC acquired a new stake in shares of General Motors in the 1st quarter valued at $32,000. Finally, WPG Advisers LLC acquired a new stake in shares of General Motors in the 1st quarter valued at $34,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Down 1.2%

Shares of General Motors stock opened at $69.07 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.23 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 $70.24. The business has a fifty day simple moving average of $59.84 and a 200 day simple moving average of $53.44. The stock has a market cap of $64.43 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 0.97 and a beta of 1.33.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 21st. The auto manufacturer reported $2.80 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 business 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 firm’s quarterly 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. Research analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GM shares. Evercore ISI lifted their target price on General Motors from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Industrial Alliance Securities set a $70.00 target price on General Motors in a research note on Friday, July 11th. Citigroup lifted their target price on General Motors from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. UBS Group lifted their target price on General Motors from $81.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, Piper Sandler set a $66.00 price objective on General Motors and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

Insiders Place Their Bets

In other General Motors news, CAO Christopher Hatto sold 36,804 shares of General Motors 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 transaction, the chief accounting officer directly owned 12,007 shares in the company, valued at approximately $661,585.70. The trade was a 75.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the transaction, the executive vice president 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,335,424 shares of company stock valued at $139,694,083. 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.