Retirement Systems of Alabama Acquires 96,265 Shares of General Motors Company $GM

Retirement Systems of Alabama boosted its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 10.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 985,432 shares of the auto manufacturer’s stock after acquiring an additional 96,265 shares during the period. Retirement Systems of Alabama’s holdings in General Motors were worth $48,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of General Motors by 6.9% in 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 purchasing an additional 6,395,375 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of General Motors by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer’s stock valued at $676,322,000 after purchasing an additional 316,196 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of General Motors by 4.5% in the first quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer’s stock valued at $646,482,000 after purchasing an additional 594,217 shares in the last quarter. AQR Capital Management LLC lifted its holdings 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 valued at $629,196,000 after purchasing an additional 8,012,743 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of General Motors by 17.5% in 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 purchasing an additional 1,910,186 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on GM. Barclays boosted their price target on General Motors from $77.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Argus set a $78.00 price target on General Motors in a report on Thursday, October 23rd. The Goldman Sachs Group restated a “buy” rating on shares of General Motors in a report on Tuesday, October 21st. Benchmark restated a “buy” rating on shares of General Motors in a report on Wednesday, October 22nd. Finally, Royal Bank Of Canada boosted their price target on General Motors from $77.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

General Motors Stock Performance

GM opened at $69.07 on Thursday. General Motors Company has a 52-week low of $41.60 and a 52-week high of $70.24. The firm has a market capitalization of $64.43 billion, a PE ratio of 13.90, a PEG ratio of 0.97 and a beta of 1.33. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.06 and a current ratio of 1.23. The business’s 50-day simple moving average is $59.84 and its 200 day simple moving average is $53.44.

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

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s payout ratio is 12.07%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the transaction, the executive vice president owned 8,513 shares of the company’s stock, valued at $451,274.13. The trade was a 73.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $55.10, for a total value of $2,027,900.40. Following the transaction, the chief accounting officer directly owned 12,007 shares in the company, valued at approximately $661,585.70. This trade represents a 75.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 2,335,424 shares of company stock worth $139,694,083 in the last three months. 0.54% of the stock is owned by corporate insiders.

General Motors 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.