Te Ahumairangi Investment Management Ltd Has $5.38 Million Stake in General Motors Company $GM

Te Ahumairangi Investment Management Ltd raised its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 19.6% during the second quarter, HoldingsChannel.com reports. The fund owned 109,382 shares of the auto manufacturer’s stock after buying an additional 17,920 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in General Motors were worth $5,383,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GM. Trust Co. of Toledo NA OH acquired a new position in shares of General Motors in the 2nd quarter valued at about $25,000. GFG Capital LLC bought a new stake in General Motors in the second quarter worth approximately $27,000. Costello Asset Management INC acquired a new position in General Motors in the first quarter valued at approximately $32,000. RMG Wealth Management LLC bought a new position in shares of General Motors during the 2nd quarter worth approximately $32,000. Finally, WPG Advisers LLC bought a new position in shares of General Motors during the 1st quarter worth approximately $34,000. 92.67% of the stock is owned by institutional investors.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 907,024 shares of General Motors stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $58.24, for a total transaction of $52,825,077.76. Following the transaction, the chief executive officer directly owned 552,238 shares of the company’s stock, valued at $32,162,341.12. The trade was a 62.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Mark L. Reuss sold 260,600 shares of the stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total transaction of $17,316,870.00. Following the completion of the sale, the president owned 98,006 shares of the company’s stock, valued at approximately $6,512,498.70. This represents a 72.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,283,397 shares of company stock valued at $137,184,727 over the last 90 days. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of General Motors from $68.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday. Cowen reaffirmed a “buy” rating on shares of General Motors in a research note on Tuesday, October 21st. Wedbush set a $75.00 price objective on shares of General Motors and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Jefferies Financial Group raised their target price on General Motors from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, October 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of General Motors in a research note on Tuesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, thirteen have given 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 has a consensus rating of “Moderate Buy” and a consensus target price of $70.27.

General Motors Trading Up 2.4%

NYSE:GM opened at $72.68 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 1.06. General Motors Company has a one year low of $41.60 and a one year high of $73.11. The company has a market cap of $67.80 billion, a PE ratio of 14.62, a PEG ratio of 0.96 and a beta of 1.41. The firm has a 50-day moving average of $64.17 and a 200-day moving average of $56.71.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly 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 business had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $44.60 billion. General Motors had a return on equity of 12.29% and a net margin of 1.62%.The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.96 EPS. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. As a group, equities research analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, December 5th. General Motors’s dividend payout ratio (DPR) is currently 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.