California State Teachers Retirement System increased its position in shares of General Motors Company (NYSE:GM – Free Report) (TSE:GMM.U) by 7,719.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 107,671,896 shares of the auto manufacturer’s stock after purchasing an additional 106,294,840 shares during the quarter. California State Teachers Retirement System owned 0.12% of General Motors worth $8,299,350,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in General Motors during the 2nd quarter valued at about $5,958,995,000. Franklin Resources Inc. grew its position in shares of General Motors by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 32,158,403 shares of the auto manufacturer’s stock worth $2,615,121,000 after buying an additional 835,645 shares during the period. Geode Capital Management LLC raised its stake in shares of General Motors by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 22,242,381 shares of the auto manufacturer’s stock worth $1,802,668,000 after buying an additional 267,477 shares during the last quarter. Capital World Investors lifted its holdings in General Motors by 7.8% in the fourth quarter. Capital World Investors now owns 19,536,049 shares of the auto manufacturer’s stock valued at $1,588,688,000 after buying an additional 1,405,530 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in General Motors by 5.5% in the third quarter. AQR Capital Management LLC now owns 14,252,689 shares of the auto manufacturer’s stock valued at $868,986,000 after buying an additional 748,831 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CAO Christopher Hatto sold 6,895 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $90.00, for a total value of $620,550.00. Following the completion of the transaction, the chief accounting officer directly owned 18,899 shares in the company, valued at approximately $1,700,910. The trade was a 26.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Grant Dixton sold 40,000 shares of General Motors stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $88.44, for a total transaction of $3,537,600.00. Following the completion of the transaction, the executive vice president directly owned 54,992 shares in the company, valued at approximately $4,863,492.48. The trade was a 42.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 648,904 shares of company stock valued at $57,456,067. 0.44% of the stock is owned by company insiders.
General Motors Trading Down 2.1%
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 21st. The auto manufacturer reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.38. General Motors had a net margin of 1.05% and a return on equity of 18.18%. The company had revenue of $48.03 billion during the quarter, compared to analyst estimates of $47.01 billion. During the same quarter in the previous year, the business earned $2.53 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. General Motors has set its FY 2026 guidance at 12.000-14.000 EPS. Equities research analysts predict that General Motors Company will post 13.29 EPS for the current year.
General Motors Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Friday, September 4th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, September 4th. General Motors’s dividend payout ratio is 36.36%.
Wall Street Analyst Weigh In
A number of research firms have commented on GM. Barclays lifted their target price on shares of General Motors from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Citigroup lifted their price objective on General Motors from $108.00 to $131.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Jefferies Financial Group upgraded General Motors from a “hold” rating to a “buy” rating and upped their price objective for the company from $90.00 to $99.00 in a report on Monday, July 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $100.00 target price on shares of General Motors in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price on General Motors from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Motors currently has an average rating of “Moderate Buy” and a consensus price target of $101.41.
Check Out Our Latest Research Report on GM
General Motors Company Profile
General Motors Company (NYSE: GM) is a global automotive company headquartered in Detroit, Michigan. Founded in 1908, GM designs, manufactures and sells cars, trucks and sport utility vehicles through its Chevrolet, Buick, GMC and Cadillac brands.
GM’s product portfolio includes gasoline-powered and electric vehicles, full-size pickup trucks, commercial vehicles and luxury automobiles. The company is developing battery-electric and other advanced vehicle technologies, while also offering connected-vehicle services through its OnStar platform.
Featured Stories
- Five stocks we like better than General Motors
- Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
- Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
- Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
- Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For
Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors Company (NYSE:GM – Free Report) (TSE:GMM.U).
Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.
