DekaBank Deutsche Girozentrale Cuts Stake in General Motors Company $GM

DekaBank Deutsche Girozentrale reduced its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 478,958 shares of the auto manufacturer’s stock after selling 3,136 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in General Motors were worth $23,888,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GM. AQR Capital Management LLC grew its holdings in 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 last quarter. Vanguard Group Inc. grew its holdings in General Motors by 6.9% in the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer’s stock worth $4,672,023,000 after purchasing an additional 6,395,375 shares during the last quarter. Nuveen LLC purchased a new stake in shares of General Motors during the first quarter valued at $175,889,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of General Motors during the second quarter valued at $125,583,000. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of 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 buying an additional 1,910,186 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GM. Industrial Alliance Securities set a $70.00 price objective on shares of General Motors in a report on Friday, July 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of General Motors in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price objective on shares of General Motors from $40.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday. Citigroup boosted their price objective on shares of General Motors from $61.00 to $75.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Finally, Cowen reissued a “buy” rating on shares of General Motors in a report on Tuesday. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.95.

Insider Activity

In other General Motors news, CEO Mary T. Barra sold 907,024 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were 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 owned 552,238 shares in the company, valued at approximately $32,162,341.12. This represents a 62.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christopher Hatto sold 36,804 shares of the company’s 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 completion of the transaction, the chief accounting officer owned 12,007 shares of the company’s stock, valued at approximately $661,585.70. This trade represents a 75.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,074,824 shares of company stock worth $122,377,213. 0.54% of the stock is currently owned by insiders.

General Motors Trading Up 0.9%

NYSE GM opened at $67.19 on Thursday. The company has a market capitalization of $63.97 billion, a PE ratio of 13.52, a P/E/G ratio of 1.67 and a beta of 1.33. The company has a fifty day moving average of $58.61 and a 200 day moving average of $52.45. General Motors Company has a 1 year low of $41.60 and a 1 year high of $67.59. 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 posted 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. The company had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $44.60 billion. General Motors had a net margin of 1.62% and a return on equity of 12.36%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.96 earnings per share. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Research analysts forecast that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

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

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.