Fisher Asset Management LLC Lowers Stock Position in General Motors Company $GM

Fisher Asset Management LLC lowered its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 23.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 125,806 shares of the auto manufacturer’s stock after selling 39,205 shares during the period. Fisher Asset Management LLC’s holdings in General Motors were worth $6,191,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sowell Financial Services LLC boosted its position in shares of General Motors by 2.9% in the 2nd quarter. Sowell Financial Services LLC now owns 6,834 shares of the auto manufacturer’s stock worth $336,000 after purchasing an additional 195 shares in the last quarter. Mayflower Financial Advisors LLC raised its stake in General Motors by 4.1% during the second quarter. Mayflower Financial Advisors LLC now owns 5,163 shares of the auto manufacturer’s stock valued at $254,000 after buying an additional 205 shares during the last quarter. ICONIQ Capital LLC boosted its holdings in General Motors by 4.2% in the first quarter. ICONIQ Capital LLC now owns 5,434 shares of the auto manufacturer’s stock worth $256,000 after acquiring an additional 220 shares in the last quarter. Private Trust Co. NA grew its stake in shares of General Motors by 4.8% in the second quarter. Private Trust Co. NA now owns 5,519 shares of the auto manufacturer’s stock worth $272,000 after acquiring an additional 253 shares during the last quarter. Finally, Cromwell Holdings LLC increased its holdings in shares of General Motors by 7.7% during the second quarter. Cromwell Holdings LLC now owns 3,591 shares of the auto manufacturer’s stock valued at $177,000 after acquiring an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 753,720 shares of the stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $59.95, for a total value of $45,185,514.00. Following the transaction, the chief executive officer owned 433,527 shares in the company, valued at $25,989,943.65. This represents a 63.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the executive vice president directly owned 8,513 shares in the company, valued at approximately $527,380.35. The trade was a 43.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,288,534 shares of company stock worth $79,253,568 in the last ninety days. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the topic of a number of analyst reports. Jefferies Financial Group upped their price target on shares of General Motors from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Monday, October 6th. Cowen reiterated a “buy” rating on shares of General Motors in a research note on Tuesday, October 21st. Wells Fargo & Company increased their price target on shares of General Motors from $40.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, October 22nd. UBS Group boosted their price objective on shares of General Motors from $81.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Evercore ISI upped their price objective on General Motors from $68.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, November 24th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.27.

General Motors Stock Up 0.8%

GM opened at $75.26 on Friday. The stock has a market capitalization of $70.21 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 0.85 and a beta of 1.30. The firm has a 50 day moving average price of $66.19 and a 200-day moving average price of $57.76. General Motors Company has a twelve month low of $41.60 and a twelve month high of $76.23. 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 (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 EPS for the quarter, topping 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 net margin of 1.62% and a return on equity of 12.29%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.96 EPS. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Equities research analysts forecast that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

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

About General Motors

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.