Chevy Chase Trust Holdings LLC Sells 14,390 Shares of General Motors Company $GM

Chevy Chase Trust Holdings LLC cut its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 2.8% during the second quarter, HoldingsChannel reports. The firm owned 508,617 shares of the auto manufacturer’s stock after selling 14,390 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in General Motors were worth $25,029,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in GM. AQR Capital Management LLC increased its stake in shares of General Motors by 146.8% in the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer’s stock worth $629,196,000 after purchasing an additional 8,012,743 shares during the period. Vanguard Group Inc. increased 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 during the period. Nuveen LLC bought a new position in General Motors during the first quarter valued at about $175,889,000. Kingstone Capital Partners Texas LLC bought a new position in General Motors during the second quarter valued at about $125,583,000. Finally, Hotchkis & Wiley Capital Management LLC increased 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 during the period. 92.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GM has been the topic of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of General Motors in a research note on Wednesday, October 8th. UBS Group upgraded General Motors from a “neutral” rating to a “buy” rating and boosted their price target for the company from $56.00 to $81.00 in a research note on Wednesday, September 24th. Barclays boosted their price target on General Motors from $73.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Wells Fargo & Company boosted their price target on General Motors from $38.00 to $40.00 and gave the company an “underweight” rating in a research note on Friday, October 3rd. Finally, JPMorgan Chase & Co. boosted their price target on General Motors from $60.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

General Motors Trading Up 1.9%

GM stock opened at $58.40 on Friday. General Motors Company has a 1-year low of $41.60 and a 1-year high of $62.14. The firm has a market cap 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 business’s 50 day moving average is $58.05 and its 200-day moving average is $52.10. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $45.87 billion. During the same period in the prior year, the company posted $3.06 EPS. The company’s 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. Equities analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, September 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. General Motors’s payout ratio is presently 9.52%.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 136,161 shares of the business’s stock in a transaction that occurred on 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 transaction, the president directly owned 131,036 shares of the company’s stock, valued at $7,877,884.32. The trade was a 50.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief executive officer directly owned 552,238 shares in the company, valued at $32,162,341.12. The trade was a 62.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,074,824 shares of company stock valued at $122,377,213 over the last quarter. 0.54% of the stock is owned by 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.