Louisiana State Employees Retirement System Sells 2,800 Shares of General Motors Company $GM

Louisiana State Employees Retirement System decreased its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 5.2% during the second quarter, HoldingsChannel.com reports. The firm owned 50,700 shares of the auto manufacturer’s stock after selling 2,800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in General Motors were worth $2,495,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GM. Brighton Jones LLC boosted its stake in General Motors by 456.1% in the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer’s stock worth $2,062,000 after purchasing an additional 31,755 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in General Motors by 88.7% during the 1st quarter. Farther Finance Advisors LLC now owns 16,509 shares of the auto manufacturer’s stock valued at $780,000 after acquiring an additional 7,761 shares during the period. GAMMA Investing LLC lifted its stake in General Motors by 10.6% during the 1st quarter. GAMMA Investing LLC now owns 20,133 shares of the auto manufacturer’s stock valued at $947,000 after acquiring an additional 1,933 shares during the period. Handelsbanken Fonder AB lifted its stake in General Motors by 2.1% during the 1st quarter. Handelsbanken Fonder AB now owns 206,264 shares of the auto manufacturer’s stock valued at $9,701,000 after acquiring an additional 4,210 shares during the period. Finally, Integrated Advisors Network LLC bought a new position in General Motors during the 1st quarter valued at about $240,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GM. Benchmark began coverage on shares of General Motors in a research note on Monday, July 21st. They set a “buy” rating and a $65.00 target price on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $77.00 target price on shares of General Motors in a research note on Friday. Wedbush upped their target price on shares of General Motors from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Citigroup upped their target price on shares of General Motors from $61.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Finally, Wells Fargo & Company upped their target price on shares of General Motors from $38.00 to $40.00 and gave the company an “underweight” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.84.

Insider Activity

In related news, President Mark L. Reuss sold 136,161 shares of the 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 sale, the president directly owned 131,036 shares of the company’s stock, valued at approximately $7,877,884.32. This represents a 50.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mary T. Barra sold 753,720 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $59.95, for a total transaction of $45,185,514.00. Following the completion of the sale, the chief executive officer directly owned 433,527 shares of the company’s stock, valued at $25,989,943.65. This represents a 63.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,074,824 shares of company stock valued at $122,377,213. 0.54% of the stock is owned by insiders.

General Motors Price Performance

NYSE GM opened at $55.36 on Friday. General Motors Company has a 52 week low of $41.60 and a 52 week high of $62.14. The firm has a market capitalization of $52.70 billion, a P/E ratio of 8.79, a PEG ratio of 1.18 and a beta of 1.33. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average price of $57.61 and a 200-day moving average price of $51.75.

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

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Friday, September 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 5th. General Motors’s dividend payout ratio is currently 9.52%.

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.