General Motors Company $GM Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 2.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 508,617 shares of the auto manufacturer’s stock after selling 14,390 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of General Motors worth $25,029,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Trust Co. of Toledo NA OH acquired a new position in General Motors during the second quarter valued at $25,000. GFG Capital LLC acquired a new position in General Motors during the second quarter valued at $27,000. Costello Asset Management INC acquired a new position in General Motors during the first quarter valued at $32,000. RMG Wealth Management LLC acquired a new position in General Motors during the second quarter valued at $32,000. Finally, WPG Advisers LLC acquired a new position in General Motors during the first quarter valued at $34,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Price Performance

Shares of NYSE:GM opened at $58.40 on Friday. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $62.14. The business has a 50-day moving average of $58.05 and a two-hundred day moving average of $52.10. The stock has a market capitalization of $55.60 billion, a P/E ratio of 9.27, a P/E/G ratio of 1.72 and a beta of 1.33. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The company had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $45.87 billion. During the same quarter in the previous year, the firm earned $3.06 earnings per share. The business’s quarterly revenue 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. On average, equities research analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, September 5th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. General Motors’s payout ratio is currently 9.52%.

Analysts Set New Price Targets

Several research firms recently weighed in on GM. Bank of America dropped their price target on General Motors from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Barclays upped their price target on General Motors from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. CLSA raised General Motors to a “moderate buy” rating in a research report on Monday, July 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of General Motors in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $77.00 price objective on shares of General Motors in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 136,161 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was 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 owned 131,036 shares of the company’s stock, valued at $7,877,884.32. The trade was a 50.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rory Harvey sold 6,600 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $61.95, for a total value of $408,870.00. Following the completion of the sale, the executive vice president directly owned 8,513 shares of the company’s stock, valued at $527,380.35. This represents a 43.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,074,824 shares of company stock worth $122,377,213 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

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.