General Motors Company $GM Shares Acquired by Sound Shore Management Inc CT

Sound Shore Management Inc CT grew its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 57.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,538,799 shares of the auto manufacturer’s stock after acquiring an additional 563,086 shares during the quarter. General Motors makes up approximately 2.6% of Sound Shore Management Inc CT’s investment portfolio, making the stock its 25th biggest position. Sound Shore Management Inc CT’s holdings in General Motors were worth $75,724,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Atlantic Union Bankshares Corp lifted its stake in shares of General Motors by 6.2% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 17,628 shares of the auto manufacturer’s stock valued at $867,000 after purchasing an additional 1,023 shares in the last quarter. Fullcircle Wealth LLC lifted its stake in shares of General Motors by 2.2% in the 2nd quarter. Fullcircle Wealth LLC now owns 16,423 shares of the auto manufacturer’s stock valued at $867,000 after purchasing an additional 349 shares in the last quarter. Access Investment Management LLC acquired a new position in shares of General Motors in the 2nd quarter valued at about $689,000. Machina Capital S.A.S. lifted its stake in shares of General Motors by 90.7% in the 2nd quarter. Machina Capital S.A.S. now owns 42,947 shares of the auto manufacturer’s stock valued at $2,113,000 after purchasing an additional 20,429 shares in the last quarter. Finally, Burney Co. acquired a new position in shares of General Motors in the 2nd quarter valued at about $3,402,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Motors

In other news, CEO Mary T. Barra sold 907,024 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $58.24, for a total value of $52,825,077.76. Following the completion of the sale, the chief executive officer directly owned 552,238 shares in the company, valued at approximately $32,162,341.12. The trade was a 62.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christopher Hatto sold 36,804 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total value of $2,027,900.40. Following the completion of the sale, the chief accounting officer owned 12,007 shares of the company’s stock, valued at $661,585.70. This trade represents a 75.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,327,144 shares of company stock valued at $139,521,852 in the last three months. Corporate insiders own 0.54% of the company’s stock.

General Motors Stock Performance

Shares of GM opened at $68.74 on Thursday. The business’s 50 day moving average is $60.86 and its two-hundred day moving average is $54.27. General Motors Company has a 52-week low of $41.60 and a 52-week high of $70.24. The firm has a market cap of $64.12 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.96 and a beta of 1.33. 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 (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, beating 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 company had revenue of $48.59 billion for the quarter, compared to analyst estimates of $44.60 billion. During the same period in the prior year, the company posted $2.96 EPS. General Motors’s quarterly revenue was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Analysts forecast that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

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 given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s dividend payout ratio is presently 12.07%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GM shares. Wells Fargo & Company lifted their price objective on General Motors from $40.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, October 22nd. Zacks Research upgraded General Motors from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. Citigroup upped their price target on General Motors from $75.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Bank of America decreased their price target on General Motors from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Finally, Piper Sandler set a $66.00 price target on General Motors and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.00.

General Motors Company 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.