Convergence Investment Partners LLC Cuts Stock Holdings in General Motors Company $GM

Convergence Investment Partners LLC decreased its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 1.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 35,805 shares of the auto manufacturer’s stock after selling 486 shares during the period. Convergence Investment Partners LLC’s holdings in General Motors were worth $1,762,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mirova increased its position in General Motors by 4.1% during the 1st quarter. Mirova now owns 133,969 shares of the auto manufacturer’s stock valued at $6,301,000 after purchasing an additional 5,293 shares during the period. Capital Investment Advisors LLC increased its position in General Motors by 6.3% during the 2nd quarter. Capital Investment Advisors LLC now owns 8,811 shares of the auto manufacturer’s stock valued at $434,000 after purchasing an additional 526 shares during the period. AustralianSuper Pty Ltd increased its position in General Motors by 38.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock valued at $287,428,000 after purchasing an additional 1,712,033 shares during the period. Boston Partners purchased a new position in General Motors during the 1st quarter valued at about $719,000. Finally, Malaga Cove Capital LLC purchased a new position in General Motors during the 1st quarter valued at about $292,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 4.1%

GM stock opened at $69.60 on Monday. The firm has a 50 day moving average of $59.08 and a 200 day moving average of $52.91. The stock has a market capitalization of $64.92 billion, a PE ratio of 14.00, a price-to-earnings-growth 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 Company has a 52 week low of $41.60 and a 52 week high of $69.70.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.48. The company had revenue of $48.59 billion during the quarter, compared to analysts’ expectations of $44.60 billion. General Motors had a net margin of 1.62% and a return on equity of 12.29%. General Motors’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the business earned $2.96 EPS. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Sell-side analysts forecast that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, December 5th will be paid a $0.15 dividend. The ex-dividend date is Friday, December 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. General Motors’s dividend payout ratio (DPR) is 12.07%.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 753,720 shares of General Motors stock in a transaction that occurred on Wednesday, September 24th. The shares were 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 in the company, valued at approximately $25,989,943.65. The trade was a 63.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Christopher Hatto sold 23,400 shares of General Motors stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $61.01, for a total transaction of $1,427,634.00. Following the sale, the chief accounting officer owned 12,007 shares of the company’s stock, valued at approximately $732,547.07. The trade was a 66.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,335,424 shares of company stock valued at $139,694,083 over the last 90 days. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. CLSA raised shares of General Motors to a “moderate buy” rating in a research report on Monday, July 7th. Wall Street Zen raised shares of General Motors from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada lifted their price objective on shares of General Motors from $77.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday. Weiss Ratings downgraded shares of General Motors from a “buy (b-)” rating to a “hold (c)” rating in a research report on Saturday. Finally, Citigroup lifted their price objective on shares of General Motors from $75.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and a consensus 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.