Calamos Advisors LLC lessened its holdings in General Motors Company (NYSE:GM – Free Report) (TSE:GMM.U) by 46.2% during the third quarter, HoldingsChannel.com reports. The firm owned 277,251 shares of the auto manufacturer’s stock after selling 237,854 shares during the period. Calamos Advisors LLC’s holdings in General Motors were worth $21,348,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in GM. Avior Wealth Management LLC grew its position in General Motors by 2.6% in the third quarter. Avior Wealth Management LLC now owns 5,251 shares of the auto manufacturer’s stock valued at $404,000 after purchasing an additional 134 shares in the last quarter. Bogart Wealth LLC increased its stake in General Motors by 17.0% in the 2nd quarter. Bogart Wealth LLC now owns 949 shares of the auto manufacturer’s stock valued at $73,000 after buying an additional 138 shares during the last quarter. Richardson Financial Services Inc. lifted its position in General Motors by 75.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 325 shares of the auto manufacturer’s stock worth $25,000 after buying an additional 140 shares in the last quarter. Intelligence Driven Advisers LLC lifted its position in General Motors by 2.0% during the 3rd quarter. Intelligence Driven Advisers LLC now owns 7,236 shares of the auto manufacturer’s stock worth $557,000 after buying an additional 143 shares in the last quarter. Finally, Childress Capital Advisors LLC grew its holdings in shares of General Motors by 2.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 5,288 shares of the auto manufacturer’s stock valued at $407,000 after acquiring an additional 143 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.
General Motors Stock Performance
Shares of GM stock opened at $86.24 on Friday. The stock has a market cap of $72.75 billion, a P/E ratio of 19.78, a P/E/G ratio of 0.49 and a beta of 1.40. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.09 and a quick ratio of 0.94. The company has a fifty day moving average price of $83.35 and a two-hundred day moving average price of $80.83. General Motors Company has a one year low of $67.06 and a one year high of $93.70.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 20th. The auto manufacturer reported $3.70 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.01. The company had revenue of $50.02 billion during the quarter, compared to the consensus estimate of $48.78 billion. General Motors had a net margin of 2.12% and a return on equity of 19.36%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.80 EPS. As a group, equities analysts predict that General Motors Company will post 13.37 EPS for the current year.
General Motors declared that its Board of Directors has approved a stock buyback program on Tuesday, October 20th that allows the company to repurchase $20 billion in shares. This buyback authorization allows the auto manufacturer to repurchase up to 27.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
General Motors Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, December 4th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, December 4th. General Motors’s dividend payout ratio (DPR) is 16.51%.
Insider Buying and Selling
In related news, EVP Rory Harvey sold 16,513 shares of General Motors stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $89.64, for a total transaction of $1,480,225.32. Following the completion of the transaction, the executive vice president owned 12,000 shares in the company, valued at approximately $1,075,680. This trade represents a 57.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.44% of the company’s stock.
General Motors News Roundup
Here are the key news stories impacting General Motors this week:
- Positive Sentiment: Higher long-term earnings forecasts: Zacks Research raised its estimates for GM’s 2027 and 2028 earnings, including its FY2028 EPS forecast to $15.10 from $12.70. Zacks Research earnings forecast
- Positive Sentiment: Domestic battery-materials exposure: GM holds a 38% stake in Nevada’s Thacker Pass lithium project, which could support its longer-term EV battery supply chain. GM’s Thacker Pass stake
- Neutral Sentiment: Executive share sale: EVP Rory Harvey sold 16,513 shares under a pre-arranged Rule 10b5-1 plan, reducing his direct holding by 57.9%. The planned nature of the transaction makes it a less clear signal about his outlook. SEC filing
- Negative Sentiment: EV braking recall: GM is recalling about 67,000 Chevrolet and Cadillac EVs over a software issue that could cause loss of braking. An over-the-air fix may limit repair costs, but the safety risk and added scrutiny are concerns. EV braking recall
- Negative Sentiment: Further recall and legal overhangs: Reports describe additional recalls affecting more than 80,000 vehicles, while GM recently agreed to a $220 million settlement with 36 states over allegations involving driver-data practices. Additional vehicle recalls Driver-data settlement
- Negative Sentiment: Costs and product uncertainty: Automakers face higher material, logistics, and memory costs as pricing power weakens. Separately, a report says GM has dropped a planned electric Corvette SUV, raising questions about its EV product strategy. Automaker cost pressures Electric Corvette SUV report
Analyst Ratings Changes
GM has been the topic of a number of recent research reports. Jefferies Financial Group raised General Motors from a “hold” rating to a “buy” rating and lifted their target price for the company from $90.00 to $99.00 in a research report on Monday, July 27th. BNP Paribas Exane increased their price target on General Motors from $102.00 to $112.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Wall Street Zen downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group decreased their price target on General Motors from $112.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Finally, Daiwa Securities Group boosted their price target on General Motors from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, General Motors has a consensus rating of “Moderate Buy” and an average price target of $101.44.
Read Our Latest Analysis on General Motors
About General Motors
General Motors Company designs, manufactures and sells cars, trucks, crossovers and sport utility vehicles. Its vehicle brands include Chevrolet, Buick, GMC and Cadillac, and its offerings also include vehicle parts, software and related services. GM Financial provides automotive financing and leasing products to customers and dealers.
Founded in 1908, General Motors is headquartered in Detroit, Michigan. The company serves customers in North America and international markets, with operations and sales spanning multiple regions.
Mary Barra has served as GM’s chief executive officer since 2014.
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