Profund Advisors LLC Cuts Holdings in General Motors Company $GM

Profund Advisors LLC trimmed its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 15.6% in the second quarter, HoldingsChannel reports. The firm owned 15,300 shares of the auto manufacturer’s stock after selling 2,837 shares during the quarter. Profund Advisors LLC’s holdings in General Motors were worth $753,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Sowell Financial Services LLC grew its holdings in shares of General Motors by 2.9% in the second quarter. Sowell Financial Services LLC now owns 6,834 shares of the auto manufacturer’s stock valued at $336,000 after acquiring an additional 195 shares in the last quarter. Mayflower Financial Advisors LLC grew its stake in General Motors by 4.1% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 5,163 shares of the auto manufacturer’s stock valued at $254,000 after purchasing an additional 205 shares during the period. ICONIQ Capital LLC increased its position in shares of General Motors by 4.2% during the 1st quarter. ICONIQ Capital LLC now owns 5,434 shares of the auto manufacturer’s stock valued at $256,000 after purchasing an additional 220 shares during the last quarter. HHM Wealth Advisors LLC raised its stake in shares of General Motors by 14.4% during the 1st quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer’s stock worth $86,000 after purchasing an additional 232 shares during the period. Finally, Private Trust Co. NA boosted its holdings in shares of General Motors by 4.8% in the 2nd quarter. Private Trust Co. NA now owns 5,519 shares of the auto manufacturer’s stock worth $272,000 after buying an additional 253 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 753,720 shares of the firm’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $59.95, for a total transaction of $45,185,514.00. Following the completion of the transaction, the chief executive officer owned 433,527 shares of the company’s stock, valued at approximately $25,989,943.65. This trade represents a 63.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 6,600 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $61.95, for a total transaction of $408,870.00. Following the completion of the sale, the executive vice president owned 8,513 shares in the company, valued at approximately $527,380.35. This trade represents a 43.67% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,290,340 shares of company stock valued at $137,493,952. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GM has been the subject of a number of research reports. Citigroup increased their target price on shares of General Motors from $75.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Jefferies Financial Group increased their price objective on General Motors from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, October 6th. Bank of America lowered their target price on General Motors from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Barclays increased their price target on General Motors from $77.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Wedbush set a $75.00 price objective on General Motors and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.00.

General Motors Stock Performance

General Motors stock opened at $71.17 on Wednesday. The firm has a fifty day simple moving average of $61.81 and a two-hundred day simple moving average of $55.02. 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 twelve month low of $41.60 and a twelve month high of $71.64. The company has a market capitalization of $66.39 billion, a PE ratio of 14.32, a P/E/G ratio of 0.96 and a beta of 1.41.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share for the quarter, beating 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 firm had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $44.60 billion. During the same quarter in the previous year, the company posted $2.96 earnings per share. The business’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. Research analysts expect that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. General Motors’s payout ratio is 12.07%.

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.