ZWJ Investment Counsel Inc. Cuts Stake in General Motors Company $GM

ZWJ Investment Counsel Inc. lowered its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,974 shares of the auto manufacturer’s stock after selling 12,147 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in General Motors were worth $18,010,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GM. Brighton Jones LLC grew its position in shares of General Motors by 456.1% during the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer’s stock worth $2,062,000 after purchasing an additional 31,755 shares in the last quarter. Portside Wealth Group LLC purchased a new stake in shares of General Motors during the first quarter worth about $293,000. Chesley Taft & Associates LLC grew its holdings in General Motors by 15.1% during the 1st quarter. Chesley Taft & Associates LLC now owns 14,222 shares of the auto manufacturer’s stock valued at $669,000 after buying an additional 1,867 shares in the last quarter. Hudson Capital Management LLC grew its holdings in General Motors by 2.0% during the 1st quarter. Hudson Capital Management LLC now owns 100,150 shares of the auto manufacturer’s stock valued at $4,710,000 after buying an additional 1,991 shares in the last quarter. Finally, Udine Wealth Management Inc. purchased a new position in General Motors during the 1st quarter valued at approximately $1,958,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 6,600 shares of the firm’s stock in a transaction that occurred on 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 directly owned 8,513 shares of the company’s stock, valued at approximately $527,380.35. This trade represents a 43.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christopher Hatto sold 23,400 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $61.01, for a total value of $1,427,634.00. Following the sale, the chief accounting officer directly owned 12,007 shares of the company’s stock, valued at $732,547.07. This represents a 66.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,074,824 shares of company stock valued at $122,377,213 over the last quarter. 0.54% of the stock is currently owned by insiders.

General Motors Price Performance

NYSE:GM opened at $60.07 on Friday. The firm has a market capitalization of $57.19 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 1.25 and a beta of 1.33. General Motors Company has a 1 year low of $41.60 and a 1 year high of $62.14. The business has a 50 day simple moving average of $57.22 and a 200-day simple moving average of $51.54. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the company earned $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Equities analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Friday, September 5th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. General Motors’s dividend payout ratio (DPR) is currently 9.52%.

Analysts Set New Price Targets

GM has been the subject of several research analyst reports. Citigroup raised their price target on General Motors from $61.00 to $75.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Bank of America cut their price target on General Motors from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price target on General Motors from $60.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday. Benchmark initiated coverage on General Motors in a report on Monday, July 21st. They set a “buy” rating and a $65.00 price target for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of General Motors in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.26.

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.